Valentine's Day on D-Street: Jewellery stocks rally 1-6%

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Moneycontrol Bureau

Shares of jewellery stocks are on buyers’ radar on Friday. Shares of Gitanjali Gems, Shree Ganesh Jeweller, PC Jeweller and Tribhovandas Bhimji Zaveri rallied 1-6 percent intraday.

Price of gold rose above USD 1,300 per ounce for the first time in over three months and is set to post its biggest weekly gain since October.

US gold futures climbed for an eighth straight session, their longest winning streak since July 2011.

Incidentally, today is St.Valentine’s day which is seen as an occasion to gift gold and diamond jewelleries. Valentine’s day is observed as a lovers’ day on February 14 each year. People in love exchange flowers, jewelleries, cards and chocolates.

At 10:58 hrs, Gitanjali Gems was at Rs 66.20, up 3 percent, Tribhovandas Bhimji Zaveri was at Rs 129.80, up 1 percent, PC Jeweller is at Rs 89.65, up 4 percent, Shree Ganesh  is at Rs 27.50, up 4 percent and Titan Company was at Rs 228.30, down Rs 0.95, or 0.41 percent on the BSE.