Jewellery retail, gold finance stocks crash

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    Jewellery retail, gold finance stocks crash
    Tribhovandas Bhimji Zaveri: Quotes, News
    BSE 62.00BSE Quote0.5 (-0.81%)
    NSE 62.00NSE Quote0.05 (-0.08%)
    Muthoot Finance: Quotes, News
    BSE 452.20BSE Quote8.95 (-1.98%)
    NSE 453.05NSE Quote8.05 (-1.78%)
    Shares of Jewellery retail companies and gold finance companies came crashing down as international gold prices fell dramatically last week.
     

    Shares of Gold and gold ornament retailers like PC Jeweller plunged 6.6 per cent, while Tribhoovandas Bhimji Zaveri dropped 10 per cent and Thangamayil fell 4.76 per cent. Also read should you buy gold after the 20% fall

    On the other hand gold finance companies stocks like Muthoot and Manappuram also plunged. Muthoot Finance was down 18 per cent, while Manappuram Finance was down 9.33 per cent.

    The drops comes largely as a result of a fall in gold prices. International gold prices have now fallen by as much as 20 per cent, ever since they peaked in 2011.

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