For the First Time in 45 Years, Silver Surpasses Crude Oil; Three Years Ago Crude Was Five Times Higher

New Delhi: Silver has emerged as the surprising outperformer in 2025, recording a 115% surge this year, its best performance since 1979. In contrast, crude oil prices have fallen by 44%, marking the worst year for the commodity since 2020.

Recently, silver prices crossed ₹2 lakh per kilogram in India, while the international rate hovered around $65 per ounce. Meanwhile, WTI crude traded at $55.93 per barrel and Brent crude at $59.71 per barrel. This marks the first time since 1980 that silver has outpriced crude oil.

A Remarkable Shift:
In mid-2022, WTI crude was approximately 5.5 times more expensive than silver. Since then, silver prices have soared 206%, while crude has declined 44%. This year will go down as one of the worst for crude oil in the post-pandemic era and one of the best for silver since 1979.

Silver’s meteoric rise has pushed its valuation above even Microsoft, making it the fifth most valuable asset globally. Analysts attribute this surge to strong industrial demand and global market dynamics.

Current Market Trends:
On MCX, silver prices showed a slight correction. 5 March delivery silver traded at ₹1,97,478 per kg, down ₹423 (0.21%) from the previous session close of ₹1,97,901. During the trading session, silver fluctuated between ₹1,94,260 and ₹1,97,708 per kg.

Expert Insight:
Market experts suggest that industrial demand is the primary driver behind silver’s rally. With strong momentum, analysts are closely watching whether silver can sustain above the ₹2 lakh mark in December.