Silver’s Market Value Surges, Closing the Gap With Nvidia

 

Silver’s powerful rally in 2025 has propelled its estimated market capitalisation beyond $4.2 trillion, surpassing companies such as Apple and Alphabet and placing it within close range of Nvidia’s roughly $4.5 trillion valuation. This positions silver as one of the world’s most valuable assets, second only to gold.

The milestone has been driven by a sharp rise in prices, with spot silver climbing above $70–$75 per ounce at times this year — gains of more than 150% year-to-date. Investor demand has been fuelled by macroeconomic uncertainty, expanding industrial use, and renewed safe-haven buying.

Analysts say that if current momentum persists, supported by expectations of central bank rate cuts and tight supply conditions, silver could soon surpass Nvidia to become the world’s second-most valuable asset by total valuation.

What’s Driving the Rally

Silver’s rally is driven by a combination of structural factors. Ongoing supply-demand imbalances, increasing industrial consumption in numerous sectors and data centres, along with strong inflows into silver-backed ETFs and physical bullion, have tightened available inventories. Simultaneously, geopolitical tensions and supply-chain concerns have heightened perceptions of scarcity.

Physical Demand Strengthens

Beyond financial markets, retail demand for silver is rising sharply. In key bullion hubs such as Australia, dealers report increased interest in silver coins and bars alongside gold, with firms like ABC Bullion seeing higher foot traffic and trading volumes. Australia remains a major centre for physical silver investment, reflecting a broader shift toward tangible assets.

Implications for Investors

Silver’s position as both an industrial commodity and a safe-haven asset is influencing investor behavior. Capital is increasingly rotating from growth-driven technology stocks into hard assets as investors seek protection against inflation, geopolitical risk, and policy uncertainty. While volatility remains a risk after such a rapid ascent, silver’s fundamentals continue to attract attention.

Bottom line: Silver’s 2025 surge marks more than a cyclical commodities move. By challenging tech giants in valuation and drawing strong physical demand worldwide, the metal is emerging as a core asset — one that could continue to reshape global investment dynamics into 2026 and beyond.