Gold vs Silver: Which commodity offers better return potential in H2 CY26?

MCX gold for August futures traded at ₹1,42,530/10g while MCX silver for September futures stood at ₹2,25,663/kg, with both metals posting modest gains tracking international markets. Despite Tuesday's uptick, gold has fallen 11.2% in June — its fourth straight monthly decline — while silver has corrected over 16% in H1 CY26, pressured by US-Iran conflict, inflation concerns and Fed rate hike expectations. Analysts at IndusInd Securities and Choice Broking expect silver to outperform gold in H2 CY26, citing industrial demand from AI, renewables, solar and EV sectors, potential Fed rate cuts, and a likely gold-silver ratio reversion, though both metals are likely to remain volatile.