New Delhi, Dec 28 Silver has surged to become one of the most valuable assets in the world, overtaking tech giants Apple Inc and Alphabet in market capitalisation and moving closer to surpassing NVIDIA Corporation to claim the second spot after gold.
According to data from companiesmarketcap.com, silver’s market capitalisation has risen to $4.220 trillion. This places it just 8.1 per cent behind NVIDIA, which currently stands at $4.592 trillion.
Gold continues to remain far ahead as the world’s most valued asset, with a market capitalisation of $31.598 trillion as of Friday (December 26).
The sharp rise in silver’s valuation comes amid a historic rally in prices. Spot silver on Comex crossed the $75 per ounce mark on Friday and extended gains to hit a fresh record high.
In India, silver futures on the Multi Commodity Exchange of India touched an all-time high of Rs 2,33,115 per kilogram during intraday trade. In contrast, NVIDIA’s stock price was trading at $188.61 in the afternoon session, down 0.32 per cent over the previous 24 hours.
Market experts believe silver could soon climb even higher in global rankings. Surendra Mehta, national secretary of the India Bullion and Jewellers Association (IBJA), said that if the current momentum continues, silver is likely to overtake NVIDIA and become the second-most valuable asset in the world.
Mehta also pointed to unusual price distortions in global silver markets.
He said the price difference between silver on Comex and the Shanghai exchange has widened to nearly $7, far above the normal gap of less than $1.
The scale of the rally is clearly visible in Indian markets. Silver prices on MCX have jumped more than 153 per cent over the past year, rising from Rs 91,600 on December 26, 2024, to Rs 2,31,879 on December 26, 2025.
Gold has also delivered strong returns but has lagged behind silver, gaining nearly 80 percent during the same period as prices rose from Rs 77,460 to Rs 1,39,233 per 10 grams of 24-carat gold.
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