(MENAFN- Yolo Wire) The price of silver (TVC: $SILVER) has hit a record high to start the month of December as investors and traders continue to allocate capital to the metal.

Silver's all-time high comes despite a lengthy outage at the Chicago Mercantile Exchange (CME), the world's largest commodities trading platform, that was caused by a data center glitch.

In early trading on Dec. 1, silver was trading at a record high of $57.90 U.S. per ounce. Silver, which is both a precious and industrial metal, has rallied hard throughout 2025.

Year-to-date, silver's price has risen 90%, outperforming gold's 60% increase. Silver is pacing for its best year since 1979, according to data from Dow Jones Markets.

Analysts attribute the rise in silver's price to growing demand from technology companies that use the metal in everything from smartphones and solar panels to data centers.

At the same time, many investors are turning to silver as a store of value amid ongoing macroeconomic and geopolitical instability.

As with gold, silver is benefiting from increased buying on the part of both investors and central banks around the world.

Many Wall Street firms see silver's price continuing to rally into 2026 and potentially surpassing $60 U.S. an ounce in coming months.

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