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With gold ruling at an all-time high, shares of listed players such as Gitanjali Gems, Shree Ganesh Jewellery, Thangamayil Jewellery and Vaibhav Gems will come under pressure as higher price will impact their sales. Even at Titan Industries, where the jewellery division is the major contributor for its revenue, there will be some pressure. Though these stocks have risen on the back of overall sentiment, sustaining that trend would be very difficult. Gold appreciated from around Rs 27,400 September 2011 to a record of over Rs 32,000 level at present. However, gold exchange traded funds might see some buying activity as investors prefer that as an investment option. Mimicking spot gold prices, ETFs from most fund houses auch as Religare, SBI (GETS), Kotak Gold, QGoldHalf, Axis Gold, Gold BEES, Reliance Gold, IDBI Gold and MGold are ruling at peak levels.
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