Silver is holding at about $52 an ounce on Sunday after its best week since August — quietly outpacing gold as the precious-metals rally broadens beyond its usual leader.
Silver traded at about $52.07 an ounce on Sunday, according to live spot references, after closing Friday at $51.94 — up 0.30% on the day and 5.72% over the week. Gold, by comparison, gained 5.03% over the same week to close Friday at $4,070.59 an ounce, and traded at about $4,072 on Sunday.
The gold-to-silver ratio — how many ounces of silver one ounce of gold buys — closed the week at 78.4, down from the high 80s where it sat for much of the year. When the ratio falls, silver is outperforming gold.
Diwali buyers piled in
The festive season helped. In India, where Diwali falls today, the All India Gem and Jewellery Domestic Council expects silver sales by value to rise about 30% this festival season, with volumes up about 10% — a stronger showing than gold, where the value of sales rose 15% to 20% but the quantity sold was broadly flat because prices are so high.
Indian retail silver was about ₹2,05,000 per kilogram on Saturday, and the jewellers’ federation put gold and silver together at more than ₹66,000 crore over the days around Dhanteras. Silver’s industrial uses — in solar panels, electronics and electric vehicles — give it a second engine that gold does not have, and analysts have pointed to that demand as one reason the metal has held up while gold pulled back from its highs.
Still far below its peak
For all the week’s gains, silver remains far below its own record. Its 52-week range runs from $48.70 to $118.45 an ounce, according to GoldPrice data — so at $52, it is still less than half its peak. Gold, by contrast, is much closer to its all-time high of $5,405 an ounce, reached in January 2026.
Friday’s strong US jobs report — 165,000 jobs added in October, far above the 65,000 expected — knocked both metals back from their highs by pushing the dollar higher and lifting the odds of a December Federal Reserve rate rise to about 75% to 80%. But the weekly gains held: gold is up about 5% on the week and silver nearly 6%, a sharp turnaround from the $3,875 level where gold closed on October 30. For buyers, the message is the same as with gold: the board price is only the starting point, with making charges and 3% GST on top of an Indian jewellery bill.
