Shares of gold-backed lenders such as Manappuram Finance and Muthoot Finance fell nearly 3% after gold prices slid as expectations of US Federal Reserve rate hikes lifted the dollar index to a more than one-year high. International spot gold dropped below $4,000 per ounce, while MCX gold futures logged a two-day fall of more than Rs 5,800 per 10 grams. The decline in bullion prices reduces the value of pledged collateral, which can constrain loan disbursements and weigh on asset quality for gold-loan companies.