Gold prices cross Rs 50,000 for first time

Gold prices in India touched a new high of Rs 50,010 per 10 gram after gaining Rs 192 on Wednesday. Tracking gold, silver prices also saw surge in demand, climbing to 6.06% to Rs 61, 130 per kg.

This is the first time gold prices have breached Rs 50,000-mark in the futures market.

Gold prices had surged 1% or about ₹500 in the previous session. On the other hand, silver had jumped 6% or about 3,400 per kg in the previous session, extending its Monday's 1,150 gain.

In global markets, spot gold prices rose 1.3% to $1,865.81 an ounce, the highest in almost nine years.