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Gold financier stocks slip as precious metal prices retreat
Gold financier stocks declined as falling gold prices raised concerns over loan growth, collateral values, and near-term margins.
Shares of gold financing companies such as Muthoot Finance and Manappuram Finance fell up to 4% after domestic gold prices declined. The drop triggered concerns over near-term loan growth and collateral values. Investors booked profits following recent gains, while softer global cues for precious metals and expectations of margin pressure weighed on sentiment across gold-linked lenders during the broader market session.