The surge in the jewellers’ share prices comes amid the enthusiasm seen in the gold bullion market. Do they benefit from higher gold prices at a time when the world is tackling a recession brought about by the Covid-19 pandemic? “There is not much correlation between gold prices and the jewellers, in my opinion. For the first quarter ended March 31, 2020, Tomei’s financials reflected the implication of rising gold prices. At the time of writing last Thursday, spot gold prices had slipped to US$1,956 per ounce.

Source: The Edge Markets August 12, 2020 06:00 UTC