World’s Largest Silver Reserves: How Much Silver Does India Own?
This Country Tops Global Silver Reserves, Know India’s Silver Stock: Silver prices continue to rise sharply. In the Delhi bullion market, silver prices have reached nearly ₹2,86,000 per kilogram. In 2025, silver prices jumped 164%. So far this year, prices have increased by about ₹47,000, or 20%.
On Wednesday, silver futures on the MCX surged nearly 5%, crossing the ₹2,90,000 per kilogram mark. Strong demand for safe-haven assets amid growing geopolitical uncertainty is driving this rally. Amid this surge, here is a look at the countries with the largest silver reserves.
Peru Holds the World’s Largest Silver Reserves:
According to a report by MMTC-PAMP, a leading gold and silver refinery in India, Peru holds the world’s largest silver reserves. As of November 12, 2025, Peru has 110,000 metric tons (110 million kilograms) of silver.
Australia ranks second with 94,000 metric tons, followed by Russia with 92,000 metric tons. China stands fourth with 72,000 metric tons, while Poland ranks fifth with 63,000 metric tons.
India Ranks 11th in Global Silver Reserves:
Mexico holds the sixth position with 37,000 metric tons of silver. Chile ranks seventh with 26,000 metric tons, followed by Argentina with 23,000 metric tons. The United States also holds 23,000 metric tons, placing it ninth. Bolivia ranks tenth with 22,000 metric tons. India ranks 11th globally, with 8,000 metric tons (8 million kilograms) of silver reserves. Silver reserves refer to the silver stock held by a country’s central bank.
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