Non-banking financial companies (NBFCs) which focus on gold loans are poised to gain from the dual tailwinds of rising gold prices and potential rate cuts in the near future, Jefferies said in a report.
It added that the rise in gold prices because of the U.S. Fed's rate cut decision and increasing geopolitical tension will drive the demand for gold loans.
As global gold prices are expected to average USD 2,700/oz in the first half of 2025, Jefferies stated that the future looks bright for gold loan NBFCs amid strengthening market conditions.
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