New Delhi, Dec. 26 -- Silver price today jumped over 5% to cross $75/oz for the first time ever with escalating geopolitical tensions aiding this historic rally for the white metal.

Spot silver advanced for a fifth straight session, climbing as over 5% to a record above $75.4 an ounce.

The recent rise in the white metal has been supported by strong speculative inflows and persistent supply dislocations across key trading centres, lingering since a historic short squeeze in October. In addition, geopolitical tensions in Venezuela-where the US has blockaded oil tankers and intensified pressure on the government of Nicolas Maduro-have further boosted silver's appeal as a safe-haven asset.

Silver's performance this year has been particular...