Gold Soars to 3‑Month High, Boosting Muthoot, Manappuram, IIFL Shares
NEWZA Editorial Team••Source: MoneyControl
NEWZAFinancial Intelligence Feed
⚡ Key Financial Takeaways
Gold rose 0.8% to $4,639.64/oz on Aug 24, up more than 5% in the week after Treasury buybacks.
Muthoot Finance shares jumped 4.4% to Rs 3,153; Manappuram +2.7% and IIFL +2.2% on the same day.
Gold‑backed ETFs added 28 tons last week, the largest inflow since January, indicating growing investor participation.
Gold Market Surge Gold priced at $4,639.64/oz on August 24, up 0.8% in Singapore markets, marking a 5% weekly gain after the Treasury’s surprise ramp‑up in buybacks of long‑dated U.S. debt. The move lowered yields and weakened the dollar, driving investors toward safe‑haven assets.
Impact on Gold‑Loan Stocks Shares of gold‑loan financiers surged on the back of the metal’s rally. Muthoot Finance climbed 4.4% to Rs 3,153, Manappuram Finance rose 2.7% and IIFL Finance gained 2.2% on the same day. The 4.5% peak in the sector reflects the direct link between gold price momentum and loan‑portfolio valuations.
Investor Sentiment & ETF Flow Gold‑backed ETFs saw a record inflow of 28 tons last week, the most since January, signalling broadening participation. Analysts note the metal is above key moving averages, having broken the $4,513 200‑day level, and may target $4,700 if momentum continues. Ray Dalio urges a 15% bullion allocation to hedge against U.S. debt risks, while TD Securities’ Bart Melek highlights the dollar’s role as a near‑term risk factor.
