Gold finance, mining companies shine as gold prices scale new highs

Despite the strong gains in gold and silver prices, many experts believe the momentum in precious metals will continue

Gold financiers and mining companies stand to gain, directly or indirectly, with gold scaling a new high and silver prices, too, heading north. The impact on jewellers, however, is projected to be mixed.

Since March 19, when the latest rally in the yellow metal took off, international spot gold price has risen 28 per cent and silver 86 per cent (given its sharper fall in mid-March due to the crash in global markets).

Simultaneously, shares of Muthoot Finance, Manappuram Finance, and Hindustan Zinc have surged 123 per cent, 111 per cent, and 58 per cent, respectively. Titan Company, though, has risen just