Silver Beats Gold: Why The White Metal Could Be The Biggest Winner Of 2026

Silver has emerged as the standout performer, decisively outperforming gold and most global asset classes with extraordinary returns of 140–145 per cent. According to Ajay Kedia, MD & Director of Kedia Advisory, such a surge has rarely been witnessed in a single year. Unlike previous rallies driven largely by speculation, the current cycle is fundamentally different, powered by a sharp rise in industrial demand from clean energy, electric vehicles, solar power and data centres, alongside strong ETF inflows. With international silver prices already hovering near $67 an ounce, Ajay Kedia expects the metal to test $75–80 levels by 2026. On the domestic front, silver prices could conservatively approach ₹2.5 lakh per kilogram. While volatility remains high — a characteristic feature of silver — Kedia advises investors not to fear corrections and instead adopt a disciplined approach through SIPs. As industrial demand reshapes the silver market, the white metal may continue to surprise on the upside in 2026.