“Gold jewellery stocks are in a freefall in India. The curbs imposed by the Indian government and the Reserve Bank of India to curtail domestic gold consumption and imports, has led to a hammering of stock prices. Some leading jewellers shares have dived by 20% to 50% during the past fortnight.  Analysts attribute the mayhem to the fact that most gold retailers in India hold huge inventories of gold.  Shares of Gitanjali Gems, touted as India’s largest gold and jewellery company, have slumped more than 60% since mid-June with investors preferring to bail out even on July 4.”

http://www.mineweb.com/mineweb/content/en/mineweb-whats-new?oid=196689&sn=Detail

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