In 2025, silver emerged as the biggest surprise in the commodity market. In dollar terms, silver prices have surged by up to 125% so far, while gold has risen by around 63% during the same period. This sharp rally has pushed silver into the spotlight not just as a precious metal, but also as a strategically important industrial commodity. Vedanta Group Chairman Anil Agarwal says silver has finally stepped out of gold’s shadow, and its shine could endure for a long time. According to him, silver’s story is far from over; it is only just beginning. Rich Dad Poor Dad author Robert Kiyosaki has echoed similar views.
Anil Agarwal points out that silver is the only metal in the world with both intrinsic value and functional value. It is not purchased merely as an investment; it is also extensively used in industry. This dual role, he says, makes silver’s demand more structured and stable.
He explains that demand for silver is increasing rapidly due to advancements in technology. Silver is becoming an essential component in solar cells, defence equipment, and emerging technologies. Whether in renewable energy or defence, silver’s role is expanding steadily, which means its demand is no longer limited to jewellery alone.
This rally has proved highly profitable for Hindustan Zinc, India’s only silver producer. In the September 2025 quarter, the company reported a consolidated profit of Rs 2,649 crore, marking a 19% rise compared to the previous quarter. Around 40% of this profit, approximately Rs 1,060 crore, came from silver.
Hindustan Zinc earned Rs 1,706 crore from silver, reflecting a 10% quarter-on-quarter increase and a 20% year-on-year rise. This growth was driven by strong global prices and stable production. Although silver is a by-product of lead and zinc mining, its contribution to earnings is rising rapidly as prices climb.
Anil Agarwal has also reassured Vedanta shareholders regarding dividends amid the company’s demerger plans. He said dividends are ‘in his blood’ and will continue regardless of circumstances. Once approved by the NCLT, Vedanta will be split into five listed companies, and shareholders will receive one share in each demerged entity. Even after the demerger, Vedanta’s $20 billion capital expenditure plan will remain unchanged, with the process expected to be completed by March 2026. Anil Agarwal compared Vedanta to a banyan tree, saying each of its businesses now has the potential to grow into a banyan tree on its own. While commodity prices may fluctuate, he believes silver’s exceptional shine will last for a long time.
Robert Kiyosaki, author of Rich Dad Poor Dad, has also expressed strong optimism about silver. He said that silver, currently trading at around $70 per ounce, could rise to as high as $200. He believes this presents positive opportunities for investors in gold and silver.