Gold vs silver vs platinum: Gold has staged a spectacular rally over the past two years, but the yellow metal is not alone. Not just the yellow metal, silver and platinum also witnessed over the same period. As we gear up for Dussehra celebrations next week, let’s understand which precious metal outperformed peers over the last one year.
While gold saw a sharp rally in 2025, the yellow metal saw range-bound movement in 2026. Meanwhile, silver saw a highly volatile session by the end of 2025 and a steep surge in the beginning of the year 2026.
Since the last Dussehra celebration, silver has outperformed gold and platinum. “Silver is the winner of the year, but it has also been the biggest round-trip: up 155% by January, now 53% off its peak,” stated Gaurav Garg, Head - Research, Lemonn, adding that anyone who bought silver near the January highs is still sitting on losses.
The gold rate in India has surged nearly 26% over the last one year. The yellow metal saw a sharp uptick in January this year, but steeply corrected in February. Central bank buying also supports the price. Central banks bought nearly 289 tonnes of gold in the second quarter of 2026, whereas China’s central bank added 23 tonnes in September.
Silver receives strong demand for its high utility and its demand among jewellery buyers. Silver reached its all-time high levels in January and February this year. The historical rally was followed by sharp corrections in March. Despite the correction, silver has surged around 47% over the last one year.