Silver has surged to become the world's second most valuable asset by market capitalization, surpassing tech giants like Nvidia and Apple, with only gold remaining ahead. This rise is attributed to a historic rally in silver prices, driven by strong industrial demand, investor interest, and central bank purchases, alongside expectations of further US Federal Reserve rate cuts. While some analysts note unusual price distortions and a potential bubble, the metal's valuation has significantly outpaced gold this year, reaching record highs in both global and Indian markets.