Gold loan firms rally as yellow metal extends gains

Posted By: Religare
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Shares of gold loan financiers like Muthoot Finance and Manappuram Finance rallied 5-7 per cent in the morning trade on BSE, tracking the recent spike in the prices of yellow metal which regained its psychologically important level of Rs 31,000 in domestic markets.

Gold extended gains for the fourth straight session on Monday on back of weak US data and weakening US dollar.

At 10:15 hours, shares of Muthoot Finance were trading at Rs 100.20 a piece, up 5.36 per cent from previous close on BSE. In the similar lines, shares of Manappuram Finance were trading at Rs 14.22 a piece, up 4.94 per cent from previous close on BSE.

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