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Gold prices climb to 8-week high; is it time to invest in gold financiers?

The trend in Muthoot Finance's stock looks promising as it is trading well above the 200-days moving average (DMA) placed at Rs 1,059 levels

Topics
Gold financing companies | Market technicals | Muthoot Finance

Avdhut Bagkar  |  Mumbai 

After witnessing profit booking early December, gold prices started the new year on a high by notching an eight-week peak after surpassing the key $1,900 level on Monday, as a surge in Covid-19 cases and prospects of tougher coronavirus control measures lured investors to the safe-haven metal.

Gold prices were mildly lower on Tuesday, down 0.33 per cent at $1,938 per ounce, after rising 2.5 per cent on Monday as the US dollar halted its slide ahead of Senate runoff elections in Georgia. Back home, gold loan portfolio of CSB Bank increased by 60.36 per cent year-on-year during the ...

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First Published: Tue, January 05 2021. 12:09 IST
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