Gold or Silver: Which Will Yield Better Returns Next Year? Experts Weigh In

2025 has been a phenomenal year for precious metals, with gold and silver delivering exceptional returns. While gold surged over 70%, silver skyrocketed more than 150%, giving investors more than double the return compared to gold. This raises the key question for 2026: which metal will perform better?

Record-Breaking Gains in 2025
From the start of the year, both metals witnessed a sharp upward trajectory. According to reports, silver started at ₹89,700 per kg on December 31, 2024, and has risen 153% since then. Gold, meanwhile, gained over 73% in global markets. By comparison, the Nifty 50 index recorded a modest 10.18% growth, underscoring the strong appeal of gold and silver among investors.

On Wednesday, silver prices in Delhi surged by ₹9,750, reaching a new record of ₹2,27,000 per kg, driven by international prices exceeding $72 per ounce, according to the All India Jewellers Association. Gold prices saw a minor dip, with 99.9% purity gold selling at ₹1,40,800 per 10 grams, down ₹50.

What Experts Predict for 2026
Naveen Mathur, Director at Anand Rathi Share & Stock Brokers, believes that both metals will maintain strength in 2026, though returns may moderate. Low interest rates and global conditions suggest that gold will remain stable, while silver, driven by robust industrial demand, could outperform gold in terms of profit potential.

Prithviraj Kothari, President of 1BJA, forecasts gold prices may range between ₹1.50 lakh and ₹1.65 lakh, while silver could rise to ₹2.30 lakh–₹2.50 lakh per kg. The key drivers include heavy gold purchases by central banks globally and rising industrial demand for silver.

Investment Advice
Experts recommend that long-term investors consider SIP (Systematic Investment Plan) in both metals to benefit from price fluctuations. Suvankar Sen of Senko Gold notes that gold offers stability, whereas silver provides opportunities for higher profits. Siddharth Jain also suggests SIP for silver, as its prices are highly volatile and allow investors to capitalize on short-term market swings.