Global markets today, Dec. 29 -- Shares of global mining firms saw a sharp rally up to 16% on Monday silver prices soared to a record high.

Japan's Toho Zinc stock price was among the top gainers, was up 15.81% on Monday on Tokyo Stock Exchange. Meanwhile, Australia's mining companies Sun Silver and Silver Mines stock gained up to 19%.

On the other hand, China's Hunan Silver stock rose by 10% daily limit in Shenzhen.

"Silver is a key component needed for data centers and AI, and the market is waking up to that demand. Many investors are shifting funds from chips and other AI-related stocks to metals like silver, which look more undervalued," Kazuhiro Sasaki, head of research at Phillip Securities Japan Ltd, was quoted as saying by Bloo...