silver market
After rising by more than 50% in the last six months, the rise in silver has now slowed down a bit. On October 17, 2025, silver made a new all-time high of $ 54.48 per ounce, after which a break in the price is being seen. RiddiSiddhi Bullions Ltd. Prithviraj Kothari, Managing Director and President of India Bullion and Jewelers Association, says that both gold and silver are trying to create a base before their next big rally. News like large-scale job cuts, government shutdown in America are supporting their prices.
Why will silver prices rise in 2025?
According to the Silver Institute, amid increasing economic uncertainty and geopolitical tension, people bought a lot of silver considering it a safe investment. Especially investment in exchange-traded products like ETFs and ETPs has increased rapidly. Strong demand from big markets like India and China and delivery problems between London and New York are also increasing the prices. The record price of gold this year has also affected silver, because it is considered a cheaper but safer option than gold.
Gold-to-silver ratio dropped
Earlier this ratio was above 100, now it is around 80. This means that silver is still at a lower value than gold, so there is more room for further upside. In the coming time, the tax policy of Trump administration, rate cut by US Fed and geopolitical situation around the world can affect the prices of both gold and silver. The demand for silver in the industry is also strong, hence the demand is expected to be more than the supply in 2025. This will keep the price supported.
Silver ETF in India
According to the Silver Institute, India is the second largest physical silver market in the world. Many times India has even left America behind in terms of physical purchases. In India people traditionally buy silver biscuits/bars. In 2024, 70% of the total retail demand will come from bars only. ETP (Exchange Traded Products) was launched in India in 2022. Their performance was weak initially, but in the last 18 months their holdings have increased by 51% to 58 Moz (1,800 tonnes) by June 2025. These ETFs are attracting new investors who are active in the stock market but do not like to buy physical silver.
Today’s rates and further moves
Today the price of silver in India is ₹ 1,47,540 per kg, the price of gold is ₹ 1,21,240 per 10 grams. Silver prices have increased by 65% so far this year, while they have increased by only 1% in the last one month. Gold has also returned to the level of a month ago.