Gold, Silver, Equity, or Dollar: What Rs. 1 lakh invested last fiscal would be worth today?

Gold and silver surged sharply to record highs, while equities delivered decent gains before turning weaker amid the West Asia crisis. Meanwhile, the dollar strengthened against the rupee, pushing the latter to an all-time low. Which asset class generated the most wealth in the last fiscal year?

An analysis of investments made in gold, silver, the US dollar, and equity indices such as Nifty 50, Nifty Midcap 150, Nifty Small Cap, and Nifty 500 Large Cap between April 1st, 2025, and March 31st, 2026, reveals how returns varied significantly based on the asset class.

Among all other investment options, silver has performed exceptionally well, outperforming other asset classes by a wide margin. By March 31st, 2026, an investment of ₹1 lakh in silver would have increased to ₹2.40 lakh, more than double in value and surpassing other assets.

Gold, often considered a haven, saw consistent gains throughout the last fiscal but lagged silver's stunning surge. During the same time, a ₹1 lakh gold investment would have increased to ₹1.60 lakh, indicating a modest return.

Dollar too couldn’t do much heavy lifting either — ₹1 lakh investment in dollar would have become roughly ₹1.09 lakh, with most of the gain coming from a weaker rupee at the end of the last fiscal.

During the same time, equities revealed varied results.

A ₹1 lakh investment in the Nifty 50 would have dropped to ₹96,400, Nifty 150 Mid Cap and Nifty 250 Small Cap would have given returns just a tad better than breakeven while investment in Nifty 500 Large Cap would have ended up in red.

(Research by: Ujjwal Thakur)