Silver hits new high at Rs 49,700; gold up by Rs 90

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NEW DELHI: Silver surged to an all-time high at Rs 49,700 per kg in the bullion market today on sustained buying by stockists amid firming global trend. Gold also gained Rs 90 to Rs 20,960 per 10 grams.

Buying activity gathered momentum as silver extended gains to hit yet another 31-year high in global markets and gold scaled to a seven-week high, amid unrest in the Middle East and concern that inflation would boost demand for the precious metals.

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