Could silver be the new gold for investors?

Price of the metal, used in products such as EV batteries and solar panels, has risen nearly 60% this year, against gold's 40% increase.

- Timothy Goh

I started investing in gold in 2023, when it was still trading at around $2,500 an ounce.

Since then, the yellow metal has been on a tear - now trading above $5,100 - thanks to talk of sustained rate cuts, geopolitical jitters and a US government shutdown.

With gold prices now worth a hefty chunk of my pay cheque, I figured it was time to turn my attention to its less flashy but more affordable sibling: silver.

Gold has dazzled investors in the past two years, but silver has been having a quiet moment of its own. The "less glamorous" metal has actually outshone gold in 2025, jumping nearly 60 per cent compared with gold's 40 per cent-or-so price rise.

Still, gold continues to hog the limelight. It's about 82 times more expensive per ounce than silver, which can somewhat create the illusion of better returns, and it's the default asset to invest in during times of uncertainty.

But just like gold, silver is also a hedge against inflation and uncertainty. It's also known for its industrial use, finding its way into everything from medicine to electric vehicles.

So to put theory into practice, I decided to buy a couple of one-ounce silver coins from a local dealer. I bought them at $57 apiece and, luckily for me, they are trading at around $62 at the time of writing.

I did not feel less glamorous buying a less glamorous metal, but I learnt that because silver is cheaper, the premiums or the markup dealers charge on top of the market price are higher. I paid roughly 6 per cent more per ounce, compared with about 3 per cent for gold.