{"id":325233,"date":"2026-10-23T13:26:05","date_gmt":"2026-10-23T07:56:05","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=325233"},"modified":"2026-10-23T13:26:05","modified_gmt":"2026-10-23T07:56:05","slug":"gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/","title":{"rendered":"Gold vs Silver vs Platinum: Which Metal Saw the Biggest Rally Since Last Dussehra, and What Is the Outlook?"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Gold vs silver vs platinum since last Dussehra: silver rose about 47% in rupee terms, gold about 26% and platinum about 10.5% between 1 Oct 2025 and 16 Oct 2026. Silver went from Rs 1,44,566 to Rs 2,13,100 per kg, gold from Rs 1,17,558 to Rs 1,48,431 per 10 gm and platinum from Rs 4,480 to Rs 4,955 per gm. Silver is also the most volatile of the three.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Gold vs silver vs platinum over the past year was won by silver, which gained about 47% in rupee terms against 26% for gold and 10.5% for platinum, according to Kotak Neo. Silver&#8217;s run came with a sharp reversal, since it rose about 155% by January and then fell about 53% from its peak. A weaker rupee, which went from Rs 88.71 to Rs 95.05 per dollar, and a higher import duty of 15% added to all three returns. This is an educational comparison and not advice.<\/p>\n<\/p><\/div>\n<p>Gold vs silver vs platinum is a common comparison in festive weeks, when many Indian households think about buying metals. The scoreboard is useful, but the returns hide how bumpy the ride was and how much of the gain came from the rupee.<\/p>\n<p>This article on gold vs silver vs platinum covers the return numbers, what drove each metal, how much came from the rupee, today&#8217;s prices, the risks and the outlook. It is educational and not a recommendation to buy or sell.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Gold_vs_Silver_vs_Platinum_Returns_Since_Last_Dussehra\" title=\"Gold vs Silver vs Platinum: Returns Since Last Dussehra\">Gold vs Silver vs Platinum: Returns Since Last Dussehra<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#How_Much_of_the_Gain_Came_From_the_Rupee\" title=\"How Much of the Gain Came From the Rupee?\">How Much of the Gain Came From the Rupee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#What_Drove_Each_Metal_in_the_Gold_vs_Silver_vs_Platinum_Race\" title=\"What Drove Each Metal in the Gold vs Silver vs Platinum Race\">What Drove Each Metal in the Gold vs Silver vs Platinum Race<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#The_Gold_Silver_Ratio\" title=\"The Gold Silver Ratio\">The Gold Silver Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Prices_Today_and_the_Recent_Pullback\" title=\"Prices Today and the Recent Pullback\">Prices Today and the Recent Pullback<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Gold_vs_Silver_vs_Platinum_Which_Suits_Which_Investor\" title=\"Gold vs Silver vs Platinum: Which Suits Which Investor?\">Gold vs Silver vs Platinum: Which Suits Which Investor?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Ways_to_Hold_Gold_Silver_and_Platinum\" title=\"Ways to Hold Gold, Silver and Platinum\">Ways to Hold Gold, Silver and Platinum<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Risks_in_the_Gold_vs_Silver_vs_Platinum_Comparison\" title=\"Risks in the Gold vs Silver vs Platinum Comparison\">Risks in the Gold vs Silver vs Platinum Comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#What_to_Watch_Next_in_Gold_Silver_and_Platinum\" title=\"What to Watch Next in Gold, Silver and Platinum\">What to Watch Next in Gold, Silver and Platinum<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Which_metal_gave_the_best_return_since_last_Dussehra\" title=\"Which metal gave the best return since last Dussehra?\">Which metal gave the best return since last Dussehra?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#How_much_of_the_return_came_from_the_weaker_rupee\" title=\"How much of the return came from the weaker rupee?\">How much of the return came from the weaker rupee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Why_did_silver_outperform_gold_and_platinum\" title=\"Why did silver outperform gold and platinum?\">Why did silver outperform gold and platinum?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#What_is_the_gold_silver_ratio\" title=\"What is the gold silver ratio?\">What is the gold silver ratio?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#What_is_the_outlook_for_platinum\" title=\"What is the outlook for platinum?\">What is the outlook for platinum?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Are_gold_and_silver_prices_falling_now\" title=\"Are gold and silver prices falling now?\">Are gold and silver prices falling now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Which_metal_is_the_safest_in_this_comparison\" title=\"Which metal is the safest in this comparison?\">Which metal is the safest in this comparison?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/gold-vs-silver-vs-platinum-which-metal-saw-biggest-rally-since-last-dussehra-experts-explain-outlook\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Gold_vs_Silver_vs_Platinum_Returns_Since_Last_Dussehra\"><\/span><strong>Gold vs Silver vs Platinum: Returns Since Last Dussehra<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Gold vs silver vs platinum: metal<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">1 Oct 2025<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">16 Oct 2026<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Return in rupees<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Silver (per kg)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,44,566<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,13,100<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 47%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gold (per 10 gm)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,17,558<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,48,431<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 26%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Platinum (per gm)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 4,480.14<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 4,954.54<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 10.5%<\/td>\n<\/tr>\n<\/table>\n<p>In the gold vs silver vs platinum table, prices are MCX levels in rupee terms as reported by Kotak Neo. The platinum figures work out to about 10.6% by my calculation, a small gap from the 10.5% stated. Silver returns were nearly twice those of gold, and platinum lagged both.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Track gold, silver and commodity prices on the Univest screeners page<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Much_of_the_Gain_Came_From_the_Rupee\"><\/span><strong>How Much of the Gain Came From the Rupee?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Gold vs silver vs platinum: metal<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Rupee return<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Rough dollar return (my calculation)<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Silver<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 47%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 37%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gold<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 26%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 18%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Platinum<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 10.5%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 3%<\/td>\n<\/tr>\n<\/table>\n<p>For gold vs silver vs platinum returns, the rupee weakened about 7.1% against the dollar over the period, from Rs 88.71 to Rs 95.05 (my calculation). Dividing each rupee return by the currency move gives a rough dollar return, which is lower for all three. This is only an approximation since the import duty also rose from 6% to 15% on 13 May 2026 and that lifted domestic prices further.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Drove_Each_Metal_in_the_Gold_vs_Silver_vs_Platinum_Race\"><\/span><strong>What Drove Each Metal in the Gold vs Silver vs Platinum Race<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Gold vs silver vs platinum: metal<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Main drivers<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Silver<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Industrial demand, jewellery demand, investment interest and domestic price gains from the rupee and duty<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gold<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Central bank buying of about 289 tonnes in Q2 2026, safe haven demand and geopolitical uncertainty<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Platinum<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Supply constraints; the outlook depends on whether supply stays tight<\/td>\n<\/tr>\n<\/table>\n<p>In gold vs silver vs platinum, gold gained steadily, though it corrected after an early 2026 rally. China&#8217;s central bank bought 23 tonnes in September, which shows official demand continues. Silver is both an industrial and a precious metal, so it moves with factory demand as well as with investor mood.<\/p>\n<p>Platinum is the laggard in this gold vs silver vs platinum comparison, and its outlook rests on supply. If mine output stays limited, prices can find support, but without a demand trigger it has trailed the other two.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Gold_Silver_Ratio\"><\/span><strong>The Gold Silver Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Gold vs silver vs platinum: gold silver ratio (my calculation)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Ratio<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1 Oct 2025<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 81<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">16 Oct 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 70<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Dec futures on 23 Oct 2026 (contract months may differ)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 73<\/td>\n<\/tr>\n<\/table>\n<p>The gold silver ratio shows how many units of silver equal one unit of gold in price. It fell from about 81 to about 70 as silver outperformed, and it rose to about 73 after silver dropped more than gold this week. Readers use the ratio to see which metal looks stretched, though it is not a signal on its own.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Prices_Today_and_the_Recent_Pullback\"><\/span><strong>Prices Today and the Recent Pullback<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Gold vs silver vs platinum: MCX 4 Dec futures on 23 Oct 2026 (about 1:15 PM)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Level<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Day change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gold (per 10 gm)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,42,611<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 0.49%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Silver (per kg)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,96,191<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 1.71%<\/td>\n<\/tr>\n<\/table>\n<p>In gold vs silver vs platinum terms, silver at Rs 1,96,191 is about 7.9% below the Rs 2,13,100 level of 16 Oct, and gold at Rs 1,42,611 is about 3.9% below Rs 1,48,431 (my calculation, with contract months possibly different). Silver fell about twice as much as gold, which matches its higher volatility. A pullback after a festive rally in gold vs silver vs platinum is common, but it also shows the risk of buying near a peak.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gold_vs_Silver_vs_Platinum_Which_Suits_Which_Investor\"><\/span><strong>Gold vs Silver vs Platinum: Which Suits Which Investor?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Gold vs silver vs platinum: investor type (my reading)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Points to weigh<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Long-term wealth holder<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gold has the steadiest record in the comparison and is backed by central banks, so it often forms the core metal holding<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Higher risk seeker<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Silver returns were the highest but the drawdown was deep, so position sizes need to stay small<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Diversifier<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Platinum has lagged but may suit those who want exposure tied to supply and industrial demand<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Festive season buyer<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Jewellery buyers pay making charges and taxes on top of the metal price, so coins, bars or ETFs may suit pure investment<\/td>\n<\/tr>\n<\/table>\n<p>The gold vs silver vs platinum choice depends on why you want the metal. A saver who wants stability looks at gold, while someone chasing higher gains may look at silver and accept sharp swings. This is an educational view and not advice.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ways_to_Hold_Gold_Silver_and_Platinum\"><\/span><strong>Ways to Hold Gold, Silver and Platinum<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Gold vs silver vs platinum can be held through exchange traded funds, mutual fund schemes, digital metal platforms, physical coins and bars, or futures on MCX. ETFs and funds avoid storage and purity worries, while futures need margin and suit traders who can handle fast swings. Platinum is harder to access in India than gold or silver, so check what products are actually available.<\/p>\n<p>For gold vs silver vs platinum, costs differ across routes, from fund expense ratios to making charges and GST on jewellery. Over a festive season, premiums on physical metal can rise, so comparing the price with the benchmark helps. Silver returns look attractive on a chart, but the cost and tax of the route you choose change what you actually keep.<\/p>\n<p>In gold vs silver vs platinum, central banks have been steady buyers of gold, which is one reason gold held up better than silver in the recent pullback. Silver does not have the same official buyer base, so it leans more on industrial demand and investor flows.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_in_the_Gold_vs_Silver_vs_Platinum_Comparison\"><\/span><strong>Risks in the Gold vs Silver vs Platinum Comparison<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Silver volatility.<\/strong> Silver rose about 155% by January and fell about 53% from the peak, so the 47% return came with a deep drawdown.<\/li>\n<li><strong>Currency and duty effects.<\/strong> A stronger rupee or a lower import duty would reduce domestic prices for all three metals.<\/li>\n<li><strong>Industrial slowdown.<\/strong> Silver and platinum depend on factory demand, which can fall in a weak economy.<\/li>\n<li><strong>Supply swings in platinum.<\/strong> A recovery in mine supply can cap platinum prices.<\/li>\n<li><strong>Chasing past returns.<\/strong> The best performer of the last year is not always the best performer of the next year.<\/li>\n<\/ol>\n<p>Kotak Neo gives no price forecasts or analyst targets for gold vs silver vs platinum in its article, so any view on the outlook rests on the drivers above. Its main warning is that silver&#8217;s headline return came with high volatility and a sharp reversal.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_in_Gold_Silver_and_Platinum\"><\/span><strong>What to Watch Next in Gold, Silver and Platinum<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>The rupee against the dollar and any change in import duty<\/li>\n<li>Central bank buying data for gold<\/li>\n<li>Industrial demand signals for silver and platinum<\/li>\n<li>The gold silver ratio and whether silver steadies after this week&#8217;s fall in the gold vs silver vs platinum race<\/li>\n<li>Platinum supply data from major producers<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Gold vs silver vs platinum since last Dussehra was a clear win for silver at about 47%, ahead of gold at 26% and platinum at 10.5% in rupee terms. A weaker rupee and higher import duty added to those gains, and silver&#8217;s deep swings are the price of its lead. Check live prices, weigh the risks and decide on your own horizon.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_metal_gave_the_best_return_since_last_Dussehra\"><\/span><strong>Which metal gave the best return since last Dussehra?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> In gold vs silver vs platinum, silver gave the best return at about 47% in rupee terms, from Rs 1,44,566 to Rs 2,13,100 per kg between 1 Oct 2025 and 16 Oct 2026. Gold gained about 26% and platinum about 10.5%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_of_the_return_came_from_the_weaker_rupee\"><\/span><strong>How much of the return came from the weaker rupee?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The rupee fell about 7.1% against the dollar, from Rs 88.71 to Rs 95.05, which lifted all three returns. By my rough calculation, silver&#8217;s dollar return was about 37%, gold&#8217;s about 18% and platinum&#8217;s about 3%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_silver_outperform_gold_and_platinum\"><\/span><strong>Why did silver outperform gold and platinum?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Silver benefited from industrial demand, jewellery demand, investment interest and domestic price gains from the weaker rupee and higher import duty. It also swings more than gold, rising about 155% by January and then falling about 53% from the peak.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_gold_silver_ratio\"><\/span><strong>What is the gold silver ratio?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It is the price of gold divided by the price of silver in the same unit. It fell from about 81 to about 70 as silver outperformed, and it is about 73 on current futures by my calculation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_outlook_for_platinum\"><\/span><strong>What is the outlook for platinum?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> In gold vs silver vs platinum, platinum lagged with about 10.5% in rupee terms, and its outlook depends largely on whether supply stays constrained. The source gives no price targets.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Are_gold_and_silver_prices_falling_now\"><\/span><strong>Are gold and silver prices falling now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> On 23 Oct 2026 the MCX Dec gold contract was at Rs 1,42,611, down 0.49% on the day and about 3.9% below 16 Oct. Silver was at Rs 1,96,191, down 1.71% on the day and about 7.9% below 16 Oct.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_metal_is_the_safest_in_this_comparison\"><\/span><strong>Which metal is the safest in this comparison?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Gold has been the steadier of the three, supported by central bank buying, while silver is the most volatile. No metal is risk free, so match the choice to your horizon and risk profile.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which metal gave the best return since last Dussehra?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"In gold vs silver vs platinum, silver gave the best return at about 47% in rupee terms, from Rs 1,44,566 to Rs 2,13,100 per kg between 1 Oct 2025 and 16 Oct 2026. Gold gained about 26% and platinum about 10.5%.\"}},{\"@type\":\"Question\",\"name\":\"How much of the return came from the weaker rupee?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The rupee fell about 7.1% against the dollar, from Rs 88.71 to Rs 95.05, which lifted all three returns. By my rough calculation, silver's dollar return was about 37%, gold's about 18% and platinum's about 3%.\"}},{\"@type\":\"Question\",\"name\":\"Why did silver outperform gold and platinum?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Silver benefited from industrial demand, jewellery demand, investment interest and domestic price gains from the weaker rupee and higher import duty. It also swings more than gold, rising about 155% by January and then falling about 53% from the peak.\"}},{\"@type\":\"Question\",\"name\":\"What is the gold silver ratio?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It is the price of gold divided by the price of silver in the same unit. It fell from about 81 to about 70 as silver outperformed, and it is about 73 on current futures by my calculation.\"}},{\"@type\":\"Question\",\"name\":\"What is the outlook for platinum?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"In gold vs silver vs platinum, platinum lagged with about 10.5% in rupee terms, and its outlook depends largely on whether supply stays constrained. The source gives no price targets.\"}},{\"@type\":\"Question\",\"name\":\"Are gold and silver prices falling now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"On 23 Oct 2026 the MCX Dec gold contract was at Rs 1,42,611, down 0.49% on the day and about 3.9% below 16 Oct. Silver was at Rs 1,96,191, down 1.71% on the day and about 7.9% below 16 Oct.\"}},{\"@type\":\"Question\",\"name\":\"Which metal is the safest in this comparison?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Gold has been the steadier of the three, supported by central bank buying, while silver is the most volatile. No metal is risk free, so match the choice to your horizon and risk profile.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gold vs silver vs platinum since last Dussehra: silver +47%, gold +26%, platinum +10.5% in rupee terms. Drivers, rupee effect, gold silver ratio, risks and outlook.<\/p>\n","protected":false},"author":36,"featured_media":325232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[15232,15234,15230,8326,15228,15235,15231,15233,5172,15229],"class_list":["post-325233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-best-performing-metal","tag-dussehra-gold","tag-gold-returns","tag-gold-silver-ratio","tag-gold-vs-silver-vs-platinum","tag-mcx-silver","tag-platinum-price","tag-precious-metals-outlook","tag-silver-price-today","tag-silver-returns"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["325232"],"rank_math_title":["Gold vs Silver vs Platinum: Which Rallied Most Since Dussehra?"],"rank_math_description":["Gold vs silver vs platinum since last Dussehra: silver gained about 47%, gold 26% and platinum 10.5% in rupee terms. 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