Silver has achieved another historic milestone by surpassing Nvidia to become the world's second most valuable asset, with its market capitalization reaching $4.7 trillion compared to Nvidia's $4.6 trillion. The precious metal continues its exceptional rally with prices crossing the $84.00 per ounce mark, delivering remarkable year-to-date gains of approximately 170%.

Global Asset Rankings and Market Capitalization

Silver's unprecedented performance has further reshaped the global asset hierarchy, now securing the second position:

Price Performance and Market Dynamics

The precious metal's exceptional rally demonstrates sustained momentum, significantly outpacing other major assets:

Industrial Demand and Supply Fundamentals

Silver's dual identity as both a precious metal and industrial commodity has proved explosive for its valuation. The metal serves as a critical input across multiple high-growth sectors:

The silver market is experiencing its fifth consecutive year of supply deficits, with mining output failing to keep pace with consumption. Above-ground inventories have reached near historic lows, while warehouse data from the Shanghai Futures Exchange shows silver inventories fell to their lowest levels since 2015.

Federal Reserve Policy and Market Structure

Following three rate cuts by the US Federal Reserve, investors are betting on further easing into 2026. Lower interest rates have amplified the appeal of non-yielding assets like silver, while a weaker dollar has added fuel to the rally.

Unlike gold, which benefits from deep liquidity and vast lending pools estimated at around $700 billion in London, silver operates in a thinner market structure. This fragility was exposed during a historic supply squeeze in October, contributing to the metal's volatile price movements.

Recent Market Activity and Outlook

After surging to record highs, silver showed signs of profit-taking with prices falling as much as 5% following five straight days of gains. The 14-day relative strength index climbed close to 80, well above the 70 threshold typically seen as overbought territory.

Recent geopolitical developments, including US actions in Venezuela and Nigeria, have boosted safe-haven demand. Additionally, a US Commerce Department probe into critical mineral imports has raised prospects of tariffs or trade restrictions on silver, adding uncertainty to already tight supply chains.

Silver Oak India Limited, a company listed on the BSE, has released its unaudited financial results for the quarter and half-year ended September 30, 2025. The Board of Directors approved these results in a meeting held on November 11, 2025, as per the company's regulatory filing.

Financial Performance

The consolidated financial results show a notable improvement in the company's performance:

This reduction in net loss indicates a positive trend in SilverOak India's financial health, with losses decreasing by approximately 35.4% year-over-year.

Key Financial Metrics

As of September 30, 2025, SilverOak India reported the following consolidated figures:

Subsidiary Performance

The financial results include the performance of SilverOak India's subsidiary, APT Infrastructure Private Limited:

APT Infrastructure Private Limited's assets constitute a significant portion of the group's consolidated assets, highlighting its importance in the overall corporate structure.

Audit Review

The financial statements were subject to a limited review by the statutory auditors, Mahendra Badjatya & Co., who provided review reports for both standalone and consolidated results. This review adds credibility to the reported figures and ensures compliance with regulatory requirements.

Corporate Governance

The board meeting, which commenced at 3:00 PM and concluded at 6:15 PM on November 11, 2025, also discussed other operational, financial, and administrative matters. This demonstrates the company's commitment to thorough oversight and transparent corporate governance practices.

While SilverOak India continues to face challenges, as evidenced by the reported losses, the reduction in net loss compared to the previous year suggests that the company's strategies may be yielding positive results. Investors and stakeholders will likely be watching closely to see if this trend continues in the coming quarters.