Gem, jewellery stocks fall as gold turns dearer

 The stocks have been falling since August-end with a consistent rise in London gold prices: first owing to the declining dollar and later on the strengthening of the yen.

 London gold prices on Thursday hit a fresh seven-year high of $386.40 per ounce, the highest since September 1996. Thus, marking a jump of more than 7 per cent from $360.75 on August 26.

 The Organisation of Petroleum Exporting Countries