Akshaya Tritiya Special: Gold ETF vs Silver ETF returns | 2025 vs 2026 compared - Winner is?

Gold and silver both delivered robust returns between Akshaya Tritiya 2025 and 2026, but the performance gap between the two precious metals has been significant, with silver clearly emerging as the stronger performer during the period.

Ravi Singh, Chief Research Officer at Mastertrust, stated, "Between Akshaya Tritiya 2025 and 2026, both gold and silver turned out to be strong performers, but the difference in returns was quite striking. Gold moved up in a relatively steady manner through the year, backed by global uncertainties, inflation worries, and continued buying from central banks. Returns in gold ETFs were in the range of 50–60 per cent, which is solid and in line with its nature as a stable asset. Silver, however, had a much sharper run. Silver ETFs delivered close to 100–115 per cent returns, helped not just by investor demand but also by strong usage in sectors like solar panels, electric vehicles, and electronics. This added an extra layer of momentum to prices."

He added, "To simplify, if someone had invested Rs 1 lakh in gold ETFs, it would have grown to around Rs 1.5–1.6 lakh. The same amount in silver ETFs could have reached nearly Rs 2–2.15 lakh. Gold tends to move steadily with lower volatility, while silver behaves more aggressively, rising faster but also carrying higher risk. That said, the two metals behave differently gold is steadier, while silver tends to be more volatile. So while silver led in returns, gold still held its ground as a more stable option."

Separately, InCred Money said, "The 90 per cent rally between March 2025 and March 2026 didn't happen in a vacuum. Central banks globally have been buying over 1,000 tonnes of gold annually since 2022, more than double the pace of the preceding decade. The catalyst was when the US & Allies froze $300 billion of Russia's foreign exchange reserves in 2022 which made it clear that Dollar-denominated assets can be weaponised. Gold held in your own vaults cannot. That's why the RBI has been quietly flying its gold reserves back from London to India."

It also said, "China made an equally consequential move in 2025, mandating its ten largest insurance companies to allocate up to 1 per cent of total assets into physical gold. That's $45–53 billion, or 630–750 tonnes over three years, effectively 15–20 per cent of all newly mined gold annually, redirected by a single policy decision. Layer in persistent geopolitical tensions and retail buying at a scale not seen in years, and a 90 per cent rally starts to make sense. So does the correction that follows."

InCred further noted that sharp corrections are entry opportunities for long-term investors, not exit signals.