Gold financier companies' stocks rose up to 4% on November 5 as gold prices climbed nearly 2% to a two-week high, supported by a weaker US dollar and lower US Treasury yields in the wake of a Democratic midterm election wave.
Spot gold rose 1.9% to $4,134.83 per ounce by 0316 GMT, hitting its highest since October 22. Bullion climbed about 3.4% on Wednesday, its biggest daily gain since August 19.
US gold futures for December delivery climbed 1.8% to $4,144.20.
At 11:45 am on November 5, shares of Muthoot Finance and Manappuram were trading 4.2% and 3.7% higher, respectively. IIFL Finance shares were trading nearly 2% higher.
A weaker dollar and lower Treasury yields have helped gold recover above the key $4,000 level, though holding above that threshold remains crucial for the recovery outlook, said Linh Tran, market analyst at XS.com.