The dip in gold prices has pushed prices of jewellery stocks, above by around 14-16 percent, reports say.

Stocks of PC Jewellers rose 3.17 percent, while those at Shree Ganesh Jewellery surged 11.79 percent. Tribhovandas Bhimji Zaveri noted a 9.37 percent hike in its stock prices, while Gitanjali Gems’ stocks rose to 13.71 per cent. Shares of Goenka Diamond & Jewels were up by 4.62 percent and Rajesh Exports’ stocks rose 3.95 percent. It is anticipated that reduced gold prices would increase consumer demand for jewellery during the festive season and that the jewellers could stock gold at lower prices, to manufacture.

Gold prices dipped 4 percent, its lowest in five years, with spot gold dropping 2.8 percent to $1,102.40 an ounce, reports say.