Best of the Week | Silver’s time to shine: Is it the new gold?

Ever since I can remember, people have complained about gold prices. No one has ever been truly happy buying gold—no matter the rate. I still recall my uncle’s wedding in 2008, when 10 grams of 24-karat gold cost around ₹13,000. Even then, the elders around me grumbled about the price.

Fast forward to 2025 and gold has skyrocketed past ₹90,000 per 10 grams. And yet, sentiment remains the same—people are either worried about future prices or regret not buying sooner.

Silver, on the other hand, has never sparked such anxiety. It has always been the easier buy, quietly growing in value, without the dramatic price spikes that make headlines. But things are changing. As the world rushes toward gold, silver is also stepping into the spotlight. Dubbed the “poor man’s gold,” silver benefits from its correlation with gold, which recently breached ₹1,05,000 per kilogram. But this time, silver’s own fundamental strengths are driving its rally.

How has silver performed?

Silver, like gold, has been on a post-pandemic surge, delivering a 15% return in just the first three months of 2025. While gold has gained 106% over the past five years, silver has outperformed with a 178% return. Currently hovering around $34 per ounce, silver still has room to grow as it's far from its all-time high of $50 per ounce in 2011. Experts believe this gap signals further upside potential.

Does silver always follow gold?

Not necessarily. While gold enjoys steady buying from central banks, the price of silver is influenced by industrial demand and trader sentiment. In essence, betting on silver is an amplified bet on gold—higher risk, but potentially higher rewards.

On to the best of Mint’s work from this week.

Can India secure a bigger deal in the critical minerals race?

India is pushing the US to upgrade their critical minerals pact into a full-fledged trade agreement—one that could unlock key tax benefits for EVs and batteries. But will Washington agree?

The October pact focused on securing lithium, cobalt, and other rare minerals vital for electric vehicles and high-tech industries. However, since it’s only an MoU, India misses out on lucrative US tax credits. As trade negotiations gain momentum, New Delhi is lobbying for a stronger deal.

Yet, challenges remain. Both nations rely on third countries to source these minerals, and experts argue that modifying the pact alone won’t be enough. Instead, India needs aggressive policy moves—subsidies, R&D investments, and stronger trade ties with resource-rich nations.

From struggle to strength: How Tamil Nadu’s women are walking into a better future

Fifteen months ago, P. Jayalakshmi’s life was a constant battle—financial struggles, family tensions, and little hope for change. But when a shoe factory opened in Eraiyur, just 10km away, she grabbed the opportunity. With no prior work experience, she was unsure of her chances, but JR One Kothari Footwear welcomed her.

Jayalakshmi isn’t alone. A. Jaya, once forced to borrow from neighbours, now earns ₹10,000 at the factory canteen. Tamil Nadu’s push into non-leather footwear manufacturing is reshaping lives, creating 230,000 jobs with ₹17,550 crore in foreign investment.

From Nike to Crocs, global brands are now sourcing from Tamil Nadu, solidifying its role in India’s ‘China+1’ strategy. Could this be the next big industrial revolution for India’s heartland?

Market rebound sparks optimism

After a rocky start, Nifty erased its year-to-date losses. This rebound, fueled by foreign investors snapping up shares and covering short positions, hints at a potential turning point. I can’t help but wonder: could this be the near-term bottom we’ve been waiting for? Market veteran Ramesh Damani even predicts a path toward record highs.

With gains driven by banking, healthcare, and consumer sectors, experts like Mirae Asset’s Swarup Mohanty advise selectively averaging into large- and small-cap stocks while avoiding pricier mid-caps.

Despite ongoing concerns over global trade tensions and tepid quarterly earnings, the renewed rally injects cautious optimism and may pave the way for a sustained recovery in India’s equity markets.

Tata Neu’s quick commerce gamble: Superapp or super confusion?

Ever ordered something expecting lightning-fast delivery, only to watch the clock tick endlessly? Hyderabad engineer Amogh Venkatanarayan had such an experience with Tata Neu Flash. A promised 10-minute delivery turned into 55.

But here’s the bigger question: What sets Tata Neu Flash apart from BBNow or even BigBasket? Customers are scratching their heads, wondering why Tata has multiple quick-delivery services under one roof. Even a former BigBasket executive believes this fragmented branding could be a recipe for confusion.

Despite its 91 million downloads, Tata Neu’s growth is slowing. Now, by bundling groceries, fashion, and electronics into Flash, Tata Digital is making another bold bet on quick commerce.

Betting or trading? The risky allure of opinion apps

For Jaipur MBA student Vikas, opinion trading seemed like an easy side hustle. A few small wins on Probo turned into bigger bets, but the 2024 IPL season dealt him a harsh blow. Desperate to recover ₹18,000 in losses, he turned to Telegram “experts” and riskier bets—only to lose more. These fast-growing platforms—Probo, MPL Opinio, and others—mimic financial markets but operate more like gambling. With real-time odds, leaderboard rankings, and referral bonuses, they create an addictive trading illusion. While some claim skill is involved, the rapid losses tell another story. With ₹50,000 crore in annual transactions and over 50 million users, the question remains—are these platforms the future of trading or just digital casinos in disguise?

GIFT Nifty: Can India win back its own trade?

India’s big bet on bringing Nifty 50 derivatives home is still struggling to take off. Nearly two years after SGX Nifty transitioned to GIFT Nifty, 67% of trades still originate from Singapore. Why? Lower costs, easier onboarding, and Singapore’s well-oiled financial ecosystem keep traders hooked.

While GIFT Nifty’s volumes surged to $1.02 trillion in FY25, its share from within GIFT City has only inched up to 33%. Transaction fees match between NSE IX and SGX, but big traders get discounts in Singapore. Remote membership for SGX? A breeze. For NSE IX? Not so much. Now, NSE IX is fighting back—rolling out incentives and fee rebates to lure volumes home.

India-US trade talks: Will there be a tariff truce?

India and the US are locked in crucial trade talks, aiming to balance tariff disparities before potential US retaliatory levies kick in on 2 April. Washington wants India to cut import duties on US goods to match its own lower tariffs on Indian exports. In return, India seeks relief from stringent US compliance norms on shrimp, processed foods, and pharmaceuticals.

Key numbers? India imposes a 30% duty on US shrimp, while Indian shrimp faces just 5.77% in the US. Similarly, India’s tariffs on machinery, chemicals, and textiles are notably higher than those imposed by the US. To sweeten the deal, India has already slashed duties on bourbon, Harley-Davidsons, and tech gear, while scrapping the ‘Google tax.’

India’s auto giants shift gears: Is the global dream fading?

With the US slapping a 25% tariff on foreign-made auto parts and a global EV slowdown, India’s auto industry is hitting the brakes on overseas expansion. But is this a roadblock or just a detour?

Tata Motors and Ashok Leyland are rethinking strategies—Ashok Leyland is exiting the UK’s EV market, while Tata Motors is extending the life of Jaguar Land Rover’s traditional engines.

For component makers, the blow is bigger—exports to the US make up a third of India’s $21 billion parts trade. Firms like Motherson, Sona BLW, and Bharat Forge are now weighing options: absorb tariff costs, shift production, or refocus on India’s surging EV market.

Is silver the new gold? Investors are betting big!

Gold has long been the king of safe-haven assets—but could silver be the new rising star? With silver ETFs in India skyrocketing from ₹4,069 crore to ₹14,017 crore in just a year, it’s not just about wealth preservation—silver’s industrial demand is booming, too. From solar panels to EV batteries and medical tech, the metal is critical to next-gen industries. Even Russia’s central bank is adding silver to its reserves.

With the gold-to-silver ratio at 90:1, analysts believe silver is undervalued. Plus, supply shortages have pushed prices up 32% in a year, with forecasts predicting ₹1,10,000 per kg in 2025.

Why do some celebrity brands shine while others fade?

When Anushka Sharma launched Nush in 2017, it was meant to be a blend of comfort and style. But within days, plagiarism allegations rocked the brand, and soon, it faded into obscurity.

Meanwhile, Virat Kohli’s Wrogn enjoyed strong innings but saw revenue dip 27% in FY24. They aren’t alone—Rheson, Skult, Being Human, and YouWeCan all started with star power but lost steam. So, what makes some celebrity brands sink while others soar?

Take Kay Beauty by Katrina Kaif—its GMV skyrocketed 4x to ₹330 crore in just three years. Or Ed-a-Mamma, Alia Bhatt’s kidswear brand, which was snapped up by Reliance for ₹300-350 crore. Even Kriti Sanon’s Hyphen skincare hit ₹100 crore in its first year!

That’s all for this week!

If you have any feedback, want to talk about food, or have anything else to say about our journalism, write to me at siddharth.sharma1@htdigital.in or reply to this mail. You can also write to feedback@livemint.com.

Best,

Shravani Sinha

Senior Correspondent