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Gold dips, jewellery stocks rise
Analysts predict this could be a short-term phenomena
By: Diamond World News Service
Oct 15 2016 12:15PM
Reference: 13522  

The dip in gold prices encourages prices of jewellery stocks to rise, as per reports. The day before Dussehra, October 10th, stock prices rose between 2-15 percent for various leading companies including PC Jeweller, Tribhovandas Bhimji Zaveri Titan Co, reports say.

Industry experts are not sure although if the jewellery demand would be strong in the long term. The festive demand in the wake of lower gold prices has spurred the rise in stocks, reports say. The market analysts opine the rise could be for the short-term as mandatory ruling like PAN declaration for transactions above 2 lakh, gold bond scheme and efforts to reduce black money could play a toll on the long-term growth.

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