India gold futures jump to record, silver at three-year high! Read full story
On Monday, Gold prices in India jumped 1% to record levels, following gains in overseas markets and as the rupee fell to the lowest level in 2019, dampening retail demand further in the world’s second-biggest consumer of the precious metal, dealers said. After a sharp re-escalation in the U.S.-China trade war whacked investor confidence and darkened the global economic outlook, on Monday, the rupee plunged to its lowest level in 2019. Local gold futures hit an all-time high of 39,196 rupees ($548.26) per 10 grams in early trade, taking their gains to nearly 25% in 2019. Local silver futures were 1% higher at 45,058 rupees per kg, after rising to 45,148 rupees earlier in the day, the highest since Oct. 3, 2016.
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