Gold vs Silver: The DCA Backtest

The identical plan — $100 on the first trading day of each month — run on both assets over their shared history (Aug 2000 → Aug 2026, $31,300 invested each). Every number below is computed from real daily closes; nothing is annualized away or cherry-picked.

invested in each
$31,300
313×
Gold today
$180,024
+475%
Silver today
$174,078
+456%

Verdict on this window: $31,300 invested into Gold grew to $180,024, versus $174,078 in Silver. Different start dates shuffle this result — the rolling analysis below shows how often.

The same $100/month, side by side

Both positions month by month across the shared window: the dashed line is cash paid in ($31,300 total), the two curves are what Gold and Silver were worth along the way. Where the curves separate is where the decade's story lives.

$100k$200k200020032006200920122015201820212024Gold $180kSilver $174kGoldSilverinvested

Does the winner depend on when you started?

One full-window result can mislead — maybe the winner just had a better final year. So we ran the head-to-head across EVERY possible 5-year start month in the shared history:

58%Gold beat Silver in 58% of all rolling 5-year windows (147 of 253) · median gap: +4.6 percentage points on the same $6,000 invested

Side-by-side numbers

GoldSilver
Shared history fromAug 2000Aug 2000
Monthly buys313313
Total invested$31,300$31,300
Final value$180,024$174,078
Total return+475%+456%
Best 5y window+144%+233%
Worst 5y window-24%-39%

Data through Aug 2026, refreshed daily.

The monetary metal versus its industrial sibling

Same metal family, different jobs: gold trades on real rates, central banks and fear; silver adds an industrial demand engine (solar, electronics) that roughly doubles its volatility. The shared window since 2000 shows the pattern clearly — silver overshoots gold's rallies (2011, 2024–26) and overshoots its drawdowns too, spending most of a decade underwater after 2011 while gold recovered years earlier.

The win-rate table is the practical takeaway: gold wins more start months by simply not collapsing, while silver's wins are concentrated and violent. Both series are front-month futures (roll effects apply), neither pays a yield, and the usual portfolio answer is gold for the hedge, a smaller silver sleeve for the torque — sized, as ever, by the worst window, not the best.

FAQ

Is Gold or Silver better for dollar-cost averaging?

On the shared window measured here, Gold finished ahead (Gold: +475% vs Silver: +456% on identical monthly buys). "Better" is window-dependent — the rolling head-to-head above tells you how stable that verdict was. Past performance doesn't predict the future; this page tells you what happened, not what will.

Can I just DCA into both Gold and Silver?

Yes, and if the pair is highly correlated the blend will behave like either one alone — check how similar the two curves above are before assuming a split adds diversification. Our portfolio calculator lets you backtest any weighting of the two on the same real data.

What data does this comparison use?

Real dividend- and split-adjusted daily closes for Gold and Silver, compared strictly over their shared history (Aug 2000 → Aug 2026), refreshed daily and validated for gaps and staleness. Fees, spreads and taxes are not modelled — see the methodology page.

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