New Delhi, Dec. 26 -- Silver has outperformed all asset classes this year with its spectacular rally. An over 150% rise in silver prices in 2025 puts the white metal on track for the best annual gains in 46 years.

In Friday's trade, silver prices surged 5% to cross the $75 an ounce mark for the first time. On MCX, too, silver prices surged 4% to a record high above Rs.2,32,700 per kg. Several geopolitical factors, like the prolonged Russia-Ukraine crisis and the latest flare-up in tensions between the US and Venezuela, have driven the safe-haven appeal for the white metal.

The precious metal has also been subject to inventory hoarding in China and the United States, creating a supply deficit.

But now some experts are turning wary of th...