Gold prices have surged by nearly 2% today, marking a significant 37% increase over the past year. This rise has also led to a jump in shares of gold finance companies like Muthoot and Manappuram Finance.

Manappuram Finance has been ordered to refund the market value of gold and pay Rs 25,000 in compensation after auctioning a man's gold during the pandemic.

Shares of gold loan companies like Muthoot Finance and Manappuram Finance surged up to 4% following a rise in gold prices, which climbed above Rs 1.58 lakh per 10 grams.

Manappuram Finance has been directed to refund a woman and pay Rs 55,000 in compensation after a pledged gold bangle was lost.