The world saw the power of silver, big companies collapsed, many countries were left behind

This year, silver is being talked about more than gold. Why not? Its price has broken decades-old records. From the global market to the local market, silver prices have increased by more than 115 percent. 

Significantly, silver's market cap has also increased globally. Silver's market cap has surpassed the market caps of many of the world's leading companies, while also surpassing the GDP of many countries, including France, Italy, and Russia. Let us tell you what kind of reports have come out regarding silver's market cap.

Silver becomes the 5th largest asset in the world

Silver has surpassed Microsoft to become the 5th-largest asset globally by market cap, a significant achievement for this precious metal.

Silver's performance in 2025 has been remarkable. From a price of approximately $29 per ounce at the beginning of the year, it has increased significantly by more than 115%.

Left behind big companies in market cap

According to an ET report, after surpassing the $63 per ounce mark, the metal's market cap reached $3.593 trillion, slightly higher than Microsoft's valuation of $3.59 trillion. 

The recent rise has put silver ahead of both Microsoft and Amazon, which have a valuation of $2.46 trillion. However, silver lags behind Google's parent company, Alphabet, which has a market cap of around $3.8 trillion.

The GDP of many countries is also very low

If we compare silver's market cap to the GDP of major countries, it appears to be performing significantly better. Currently, silver's valuation exceeds that of France, the world's seventh-largest economy, with a GDP of $3.36 trillion. 

Italy and Russia are also included in this list. Countries with GDPs higher than silver's valuation include the UK, India, and Japan, with GDPs of $4 trillion or more.

The main reasons for the increase in silver prices

The market sentiment has strengthened due to renewed expectations of a Federal Reserve interest rate cut in December. Silver's holding costs decrease when interest rates fall, increasing its appeal to investors. 

Speaking to ET, Harish V, Head of Commodity Research at Geojit Investments, said that the US Federal Reserve's decision to cut key interest rates by 25 bps to 3.50%-3.75% amid persistent inflation has further strengthened the bullish sentiment for precious metals.

Gold and silver prices have received additional support from a decline in the US dollar following interest rate cuts, with the weaker currency making precious metals more accessible to international buyers. 

This significant surge in silver prices is driven by a supply shortage, increased industrial demand for silver, and continued investment by exchange-traded funds (STFs).

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