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The Economic Times
The Economic Times
Debaroti Adhikary

Muthoot Finance, Manappuram, other gold financier stocks jump up to 4% as gold prices rise above Rs 1.58 lakh/10 grams

Gold Muthoot Finance IIFL Finance Manappuram Finance the US Treasury US Treasury United States

Shares of gold loan companies, including Muthoot Finance, Manappuram Finance and IIFL Finance, jumped up to 4% on Thursday as the yellow metal’s prices surged, following a surprise liquidity support announcement by the US Treasury.

Muthoot Finance shares jumped more than 4% to trade at Rs 2,985 apiece, while those of Manappuram Finance and IIFL Finance gained more than 3% each. This comes as gold futures for October delivery on the MCX rose Rs 447 per 10 grams to Rs 1,58,443 per 10 grams on Thursday morning. December contracts jumped above Rs 1.6 lakh per 10 grams, while February contracts traded above Rs 1.62 lakh per 10 grams.

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