MUMBAI, Aug 26 (Reuters) - Gold prices in India jumped 1% onMonday to record levels, following gains in overseas markets andas the rupee fell to the lowest level in 2019, dampening retaildemand further in the world's second-biggest consumer of theprecious metal, dealers said.
Local gold futures hit an all-time high of 39,196rupees ($548.26) per 10 grams in early trade, taking their gainsto nearly 25% in 2019.
The rupee plunged to its lowest level in 2019 onMonday after a sharp re-escalation in the U.S.-China trade warwhacked investor confidence and darkened the global economicoutlook.
Local silver futures were 1% higher at 45,058 rupeesper kg, after rising to 45,148 rupees earlier in the day, thehighest since Oct. 3, 2016.($1 = 71.4920 Indian rupees)(Reporting by Rajendra Jadhav; editing by Uttaresh.V)