Muthoot Finance, Manappuram, other gold financier stocks fall up to 6% as precious metal hits one-week low

Spot gold was at $4,127.53 per ounce by 1045 ​GMT after hitting its lowest since October 15 in earlier trade. Muthoot Finance shares ended 3% lower Shares of Muthoot Finance ended at Rs 2,489.80, lower 2.97 percent or Rs 76.20 from the previous day's close of Rs 2,566. Manappuram Finance down over 5% Gold & Silver Rates Today Wednesday, 21st October, 2026 Gold Rate in Mumbai Today Wednesday, 21st October, 2026

Silver Rate in Mumbai Today Shares of Manappuram Finance closed 5.62 percent or Rs 17.95 lower to end at Rs 301.60, on the NSE. The stock closed at Rs 319.55 on the previous day. IIFL Finance share price down 5% Shares of IIFL Finance today ended at Rs 584.50, 4.57 percent or Rs 28 lower from the previous day close of Rs 612.50, on the NSE. Gold price today: Why yellow metal was under pressure Domestic gold prices witnessed downward pressure, diverging slightly from international bullion movements amid changes in the rupee, according to market analysts.

In the commodities market, gold prices declined 0.49 per cent to Rs 1,45,803 per 10 grams for 24-karat gold. Silver prices fell 1.15 per cent to Rs 2,09,061 per kg at the time of filing the report. On the Multi Commodity Exchange (MCX), December gold futures closed at Rs 1.47 lakh per 10 grams after falling 2.4 percent over the past week. In International markets, Comex gold futures for December delivery retreated by $35.20 or nearly 1 percent to settle at $4,181.10 per ounce.

Analysts said currency movements had played a significant role in the recent domestic price decline. Weighing in on the domestic trend, Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, noted, "Gold traded weak, declining around 0.65 percent to Rs 1,45,600, as Comex Gold fell 0.23 percent, while rupee appreciation of around 0.45 percent added further pressure on domestic prices.

The overall trend remains weak amid a stronger rupee and concerns over elevated crude oil prices feeding inflationary pressures. Going ahead, the Fed’s policy decision next week will be the key trigger, with markets assessing the possibility of further monetary tightening and the central bank’s guidance on inflation. Gold range can be seen between Rs 1,42,500-Rs1,47,500." Kaynat Chainwala, AVP Commodity Research, Kotak Neo stated the spot gold is currently trading flat near $4,126 per ounce, while silver retreated to $57.10 per ounce after touching $58.60 in the previous session.

He stated that the elevated crude oil prices continue to complicate the monetary policy outlook, though weakness in the US dollar and Treasury yields has cushioned precious metals from steeper losses. He further stated, "With no major US economic data scheduled, movements in the bond market and developments in crude oil prices are likely to guide trading over the next few sessions. Attention will then shift to the Federal Reserve’s October policy meeting next week."

He warned that if Brent extends its rally, adding to inflationary pressures and strengthening expectations of further monetary tightening, gold could fall decisively below $4,100, while silver could slip below $55. Market participants are closely monitoring bond market movements and upcoming weekly US inventory data. However, the primary driver for the coming sessions remains at the Federal Reserve’s October policy meeting, which will dictate the near-term trajectory for both bullion and gold-backed financial stocks. (With inputs from Reuters)