Jewellery stocks surge up to 10% as gold ETF subscriptions restricted

Jewellery stocks including Shanti Gold International, PC Jeweller and Sky Gold and Diamonds rose sharply on Friday, with gains reaching up to 10%. The rally was triggered by mutual fund houses temporarily restricting fresh subscriptions to gold ETF Fund of Funds.

With the festive and wedding season approaching, market analysts expect sustained demand for gold to remain strong. Organised jewellery retailers are positioned to capture increased market share during this period.

The restriction on ETF subscriptions is seen as redirecting investor interest and capital toward traditional jewellery purchases, benefiting listed retail players in the sector.