Silver Is Doing Something Weird
Something strange is going on with silver right now. The spot price is around ₹1.75 lakh per kilo, but the futures are trading near ₹1.55 lakh. That’s upside down. Normally, the future price is higher because of storage, interest, and time value.But this time, the market says, “I want silver now, not later.”
This is called backwardation, and honestly, I’ve never seen it this extreme.
It Feels a Bit Like 1933 But in Reverse
In 1933, during the Great Depression, the U.S. was on the gold standard.The price of gold was fixed at $20.67 per ounce, and money was backed by that gold. People were scared, banks were failing, and everyone was hoarding gold instead of spending money.
So President Roosevelt did something wild.
He made private gold ownership illegal, bought all the gold from citizens at $20, and then boom changed the price to $35 an ounce.Overnight, the government’s gold became worth way more, and they suddenly had room to print more money.
That move helped restart the economy.
It was sneaky, but it worked. Now Fast Forward to Today, We’re seeing tension again but in a totally different kind of system. Silver is showing stress. Prices today are higher than prices for the future. It’s almost like the market doesn’t trust tomorrow’s money.
But here’s the big difference:
In 1933, the U.S. could revalue gold to fix the system because money was tied to metal.
Now, our money is fiat just paper and trust. There’s no peg, no metal to reprice, and no Roosevelt move left to pull.
Back then, money was backed by scarcity. Now, it’s backed by belief.
So if silver is flashing a warning sign, it’s not about the metal it’s about faith. Two Different Worlds, Same Feeling, 1933 was a deflation crisis not enough money in the system. 2025 might be a confidence crisis too much money, not enough trust. Both times, people ran to real assets.
Both times, the market said, “I trust metal more than paper.”
But the outcomes are opposite. In 1933, the government fixed it by revaluing gold and printing more money. In 2025, there’s no fix like that anymore central banks already printed everything they could.
So when silver starts behaving like this, it might be the modern world’s way of saying,
“Hey, something feels off.” Back then, gold told the truth about the dollar. Now, maybe silver is telling the truth about the whole system. It’s not the same story but it rhymes.
And when metals start talking like this, it’s usually worth listening.
