Silver overtakes NVIDIA to become world's second most valuable asset
What's the story
Silver has surpassed NVIDIA in market capitalization, becoming the second-most valuable asset globally, after gold. As of January 13, silver's market cap stood at $4.822 trillion, according to CompaniesMarketCap.com. This figure is higher than NVIDIA's market cap of $4.502 trillion. Gold remains on top with a whopping market cap of $32.036 trillion.
Price escalation
Silver's price surge and market performance
The spot price of silver on Comex crossed $86 per ounce on January 12, hitting a record high. On the Multi Commodity Exchange (MCX), it also hit an all-time high of ₹2,71,352 per kilogram. As for NVIDIA Corporation stock, it was trading at $184.94 with a marginal gain of 0.04% in the last 24 hours but a decline of 1.23% over the week.
Market trends
Silver's market performance and future outlook
On MCX, silver was trading at ₹2,70,851 at 10:30am a whopping 190% rise from ₹93,400 a year ago. The Augmont Bullion report notes that the silver rally began from $45 in October 2025 and peaked at $82.7 in December. The report further predicts this rally could continue toward $84, $88, $93 and even $99 in the coming months with strong support at around $70.
Market comparison
Gold's performance and market dynamics
In contrast to silver's stellar performance, gold has given a return of about 79% during the same period, rising from ₹79,630 to ₹1,42,180 for 10gm of 24-carat purity. The gold-silver ratio also fell from 110 to a recent low of 65 through 2025. This indicates that silver outperformed gold significantly in this time frame.