Gold hits record high on surging oil

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"It's basically two-way trading. There was selling from jewellers in Indonesia but the volume is low," said a dealer in Singapore, referring to Southeast Asia's main consumer.

Silver jumped as high as $19.25 an ounce, its best level in 27 years. The metal was last quoted at $18.65/18.70 late in New York on Tuesday.

Spot platinum rose to $2,145/2,152 an ounce from $2,130/2,140 an ounce but off last week's record high of $2,192 an ounce.

Palladium rose as high as $546 an ounce, its best level in more than six years, up from $523/528 late in New York.

(Editing by Ben Tan)

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