New Delhi, Dec. 25 -- As the world slipped into Christmas cheer, global markets found an unlikely star leading the festivities. While equity trading stopped and investors paused to celebrate, precious metal silver continued to shine, delivering one of the most extraordinary rallies seen in decades.

Silver prices in global markets extended their record-breaking run, with futures crossing the $72-an-ounce mark and pushing the year-to-date rally to nearly 150%. On December 24, silver ended half a percent higher at $71.8775 per ounce, capping a year that has firmly placed the metal at the centre of investor attention.

With this sharp move, silver has now emerged as the third-most valuable asset in the world, overtaking Apple Inc and Alphabe...