Increase the anxiety of falling prices of gold, gold loan companies, debt can be expensive

To falling gold prices, gold loan companies NEED to have blown. So in the coming days by pledging gold loan can be expensive for you.Gold companies 75 per cent of the cost is financed as a loan.According to the companies and declines in the prices, so the price compared to the amount of debt may be reduced by 5 per cent.In the past month, gold prices have fallen by 8-9 per cent.26,000 to Rs 25,000 per 10 grams in the middle of yet has been reached. Given the constantly falling prices, companies have begun to observe caution in granting new loans.

Leading to gold loan company Chief Operating Officer in Smahu Sddaf Mutthut Ppchcn Syed told Bhaskar Mani reduction in prices has given the companies a little alert.In addition, it is estimated that gold prices could drop now.As far as lending is concerned, the RBI norms gold loan companies, debt may not exceed 75 per cent.Despite this risk, given the company an average of 70 per cent against gold loan limit is placed.

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