Silver Up 157% YTD, Vedanta’s Anil Agarwal Says ‘Story Just Beginning’; Edelweiss CEO Dubs It New ‘SmallCap’

No one could have imagined, even in their wildest dreams, that humanity's centuries-old fascination with precious metals would remain so relevant in 2025, as gold and silver prices continue to scale new highs year after year. What sets 2025 apart, however, is the record-breaking run in both metals. Surprisingly, silver has outperformed its peer, gold, with a nearly 157% year-to-date (YTD) rally. For Anil Agarwal, Chairman of Vedanta, the parent of a key silver producer, the story is just beginning.

Silver rate in India has jumped significantly since the beginning of the year. The price of silver today, December 24, stood at Rs 2,33,000 per kilogram, which is nearly 157% higher than silver prices on 1 January, 2025, ie Rs 90,500/KG, as per GoodReturns data.

Vedanta's Hindustan Zinc Share Price At Record High Due To Record Silver Price Rally

Shares of Vedanta's subsidiary, Hindustan Zinc, touched a fresh 52-week high mark of Rs 632 per share on the BSE on Wednesday. The rally in Hindustan Zinc shares came as the silver rate in India continues to surge record high. Hindustan Zinc is India's leading supplier of silver. It has enjoyed a significant surge in revenue from its silver production segment over the past few quarters.

'Silver Story is Just Beginning': Vedanta Chairman Anil Agarwal

Silver rate in India saw a sharp jump in its rate, compared to gold. The demand for silver has increased not just because of its intrinsic value but also due to its functional demand, highlighted Vedanta Chairman Anil Agarwal in his latest social media post.

"This year, silver has emerged from the shadow of its precious metal sibling, gold. What a year for silver, with year-to-date appreciation of 125% in dollar terms. In comparison, Gold, which also had a very good year, appreciated by 63%, half of silver's returns," read Agarwal's post. He maintained that while silver prices may continue to fluctuate, but 'silver shine is here to stay'.

"And the silver story is just beginning. It is unique because it is the only metal which has an intrinsic value and also a functional demand. New technologies, whether in solar cells or defence, use silver as a key component. As the only producer of silver in India, we have seen this first-hand at HZL," he added.

'Silver Is The New SmallCap': Says Radhika Gupta, Edelweiss Mutual Fund CEO

As silver has emerged as the talk of the town because of its stupendous rally, Edelweiss Mutual Fund CEO, Radhika Gupta, shared her two cents on the precious metal. She compared 'silver's demand in 2025' to that of 'enthusiasm around small-cap in 2024'.

"Silver is today's new small cap. Silver in 2025 is what smallcap was in 2023-24," The Hindu Business Line quoted Gupta in a report.