Silver expected to surpass NVIDIA

New Delh: Silver has surged to become one of the most valuable assets in the world, overtaking tech giants Apple Inc and Alphabet in market capitalisation and moving closer to surpassing NVIDIA Corporation to claim the second spot after gold.

According to data from companiesmarketcap.com, silver’s market capitalisation has risen to $4.220 trillion. This places it just 8.1 per cent behind NVIDIA, which currently stands at $4.592 trillion. Gold continues to remain far ahead as the world’s most valued asset, with a market capitalisation of $31.598 trillion as of Friday (December 26).

The sharp rise in silver’s valuation comes amid a historic rally in prices. Spot silver on Comex crossed the $75 per ounce mark on Friday and extended gains to hit a fresh record high.

In India, silver futures on the Multi Commodity Exchange of India touched an all-time high of Rs 2,33,115 per kilogram during intraday trade. In contrast, NVIDIA’s stock price was trading at $188.61 in the afternoon session, down 0.32 per cent over the previous 24 hours.

Market experts believe silver could soon climb even higher in global rankings. Surendra Mehta, national secretary of the India Bullion and Jewellers Association (IBJA), said that if the current momentum continues, silver is likely to overtake NVIDIA and become the second-most valuable asset in the world.