Muthoot Finance, Manappuram Finance, other stocks rise up to 5% as gold prices hit Rs 1.48 lakh/10 grams

July 3, 2026

Gold prices surged past Rs 1.48 lakh per 10 grams on Friday, propelling shares of gold financiers like Muthoot Finance and Manappuram Finance up by as much as 5%. This rally was triggered by weaker-than-expected US jobs data, which cooled inflation concerns and reduced expectations of an imminent interest rate hike by the US Federal Reserve.

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