Muthoot Finance rallies nearly 4% as gold hits late-June high; Manappuram and Hindustan Zinc also advance
AI Market Summary
Gold and silver rallied sharply after weaker-than-expected US labor data increased expectations of a Federal Reserve policy pivot, boosting precious-metals demand. Spot gold rose to $4,165/oz (a late-June high) and silver gained ~2.1%, lifting gold-loan lenders (Muthoot Finance, Manappuram) and silver-linked equities (Hindustan Zinc). The move highlights rising sensitivity of metals to US macro data and rate expectations in the near term.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+1.20%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Gold and silver prices surged globally, lifting sentiment across India's bullion-linked stocks. Spot gold climbed to $4,165.29 an ounce, its highest level since late June, while spot silver rose 2.1% to $62.28.
The move followed weaker-than-expected U.S. labour data, which has strengthened expectations of a shift in Federal Reserve policy. In equity markets, gold-loan lenders Muthoot Finance and Manappuram Finance gained, while silver producer Hindustan Zinc also moved higher.
On the domestic front, India's gold price rebounded to ₹148,046 per 10 grams, up about 5.4% from this week's low.
