₹10,000 SIP in gold and silver ETFs 5 years ago: How much are they worth?

Both gold and silver investments have proved profitable in the last few years; however, there has been a marked difference in their behaviour. While gold has mostly provided smooth sailing, silver has seen volatility due to its strong association with industrial demand.

In this scenario, a monthly SIP analysis provides insights into how both these investments have done over the years. An SIP differs from a lump-sum investment by making purchases at varying price levels, thus changing the overall yield dramatically.

Thus, if you had invested ₹10,000 every month in gold five years back, what would be the performance over the same period? Since the ETFs for silver have been launched recently in India, we have also analysed a monthly SIP investment of ₹10,000 in a silver ETF over the time period for which data was available.

For this purpose, we have taken Nippon India ETF Gold BeES and Nippon India Silver ETF as examples of gold and silver investments, respectively. However, these are mentioned only for the purpose of demonstrating the performance of a precious metals ETF SIP; they do not imply the availability of other funds to invest in.

Here are the figures.

How much will a 5-year ₹10,000 monthly gold SIP be worth today?

Starting your SIP of ₹10,000 per month in one of the popular gold ETFs like the Nippon India ETF Gold BeES on 1 October 2021 shows what it looks like.

These are 60 instalments and ₹6,00,000 invested. As of 10 September 2026, the value of your SIP would have been ₹12,70,118.74.

You would have made a profit of ₹6,70,118.74, or 111.69%. For every ₹1 you would have invested, you’d have earned ₹2.12. Your XIRR, that is your real annual return, would be 16.18%.

How has your SIP in silver performed over the same period?

Silver funds in India were only launched in early 2022, making five-year SIPs in silver ETFs purely hypothetical. At this time, only a three-year SIP can be calculated.

So, if you started an SIP of ₹10,000 per month in Nippon India Silver ETF from 1 November 2023, it means that you would have invested ₹3,60,000 in it. As of 5 October 2026, your investment would have grown to ₹7,10,094.06. This means you would have made a 97.25% profit, at an XIRR of 25.41%.

Investing ₹10,000 in it at the launch date of 4 February 2022 would be worth ₹34,432.08 today, that is 30.40% per year.

Why is silver riskier than gold?

There are two roles for silver. The demand is divided 58% for industrial use, like solar panels and electronics, so a decline in factory activity affects its price. Gold demand is for jewellery and investment.

In the first few days of January 2026, the biggest single-day decline was seen in Indian precious metals. Silver ETFs fell by more than 20% while Nippon India Gold ETF registered a loss of 10.1%. 

MCX silver futures went down by about 25%, from ₹4.5 lakh per kg to ₹3.4 lakh. The strong US dollar, profit-taking, and weak equity markets have driven the price drop.

In the past six months, Nippon India Silver ETF has seen a reduction of 7.73%. An SIP started on 3 November 2025 will see a drop of 0.99% in one year due to payments made at its maximum value. But an investment of ₹10,000 on 1 October 2025 will rise by 50.85%.

How do the two SIPs look together?

Gold: 60 instalments, ₹6,00,000 invested, ₹12,70,118.74 now, XIRR 16.18%

Silver: 36 instalments, ₹3,60,000 invested, ₹7,10,094.06 now, XIRR 25.41%

Obviously, these periods are different; therefore, the comparison is not an equal one. The higher XIRR of silver is due to a shorter period and volatility, while that of gold is over a longer and calmer period.

How does XIRR calculate your actual returns?

Each instalment stays invested for a different period. The first for five years, the last for just one month. A simple percentage won’t take it into consideration.

An XIRR calculator takes into account the date and amount of each instalment. Investing ₹10,000 once on 9 September 2021 grew to ₹30,752.21, or 25.18% per year. The SIP has 16.18% because most instalments are placed later.

To calculate your own SIP, enter all dates of installments with the amount as negative, then add the current value as positive and apply the XIRR formula in Excel.

How can you start your gold and silver SIP right now?

• Choose one gold fund and one silver fund. Fix the SIP date every month.
• Put the amounts in an unequal manner. For instance, invest ₹8,000 in gold and ₹2,000 in silver, as silver is more volatile.
• Stick to it even in case of a drop in prices, since every instalment will buy you more units.
• Invest for at least three years. Silver’s one-year SIP was negative; however, its XIRR for three years was 25.41%.

Do not hope for 16.18% per year. It’s a five-year figure, and it includes a rally in 2025; past performance doesn’t guarantee future results.

You can buy both of them on Dhan like any listed stock with your demat account. Each fund also charges an annual expense ratio, which is already included in the above returns.

Conclusion

An SIP of ₹10,000 per month in gold can grow your ₹6,00,000 to ₹12,70,118.74 in five years with an XIRR of 16.18%. An SIP in silver over three years has shown to yield 25.41%; however, silver drops along the way. However, do note that this is indicative of a single fund, and past returns are not indicative of future gains.

Speaking of returns, XIRR is the only right way to evaluate any SIP. For conservative investors, it’s recommended to invest in gold in larger amounts and stay invested for longer, as the price action is smoother compared to the volatility of silver.