After years of poor performance, silver gave a strong return of 145% in 2025,
which was almost twice the 77% return from gold during the same period. Before
this, silver had delivered modest returns of 7-11% between 2023 and 2025, while
gold had returned 14-21% in the same years.
Navneet Damani, Senior Group Vice President and Head of Research at MOFSL, said
silver was priced at Rs 1 lakh per kg at the start of 2025. The initial expectation
was that it could reach Rs 1.40-1.50 lakh per kg by the end of 2025. By mid-year,
silver hit Rs 1.50 lakh, prompting Damani’s team to raise their target first to Rs
2 lakh and later to Rs 2.45 lakh per kg.