Silver hits new record at Rs. 50,550 on global cues; gold up Rs. 10

Tensions in the Middle East and costlier oil increase demand for precious metals as an alternate investment.

The Hindu newspaper s is quoted as saying:

Silver climbed to record high by adding Rs. 300 to Rs. 50,550 per kg on the bullion market today on brisk buying by stockists and industrial units, amid firm global trends. Gold inched up by Rs. 10 to Rs. 21,180 per 10 grams on local buying for the ongoing marriage season.

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