MUMBAI (Commodity Online): Indian gold jewellary makers yielded hefty returns to the investors during the year 2009 as most of the gold stocks on the Indian bourses recorded a steep rise in the valuations since January 2009.

Gold prices, witnessed a see-saw-like situation in 2009, when prices once bottomed to USD 810 per ounce in the beginning of the year but then continued a steady upward journey hitting the all-time high of USD 1210 per ounce in December.

The yellow metal has witnessed a changed perception towards gold investments. Countries as a whole poured in huge money towards buying of gold. IMF put on sale about 400 tonnes of gold, which was slated to put downward pressure on the gold prices. But the emergence of China, India and Russia as large buyers proved booster for the price sentiment. China bought 450 tonnes of gold, mainly from the domestic sources, while India bout 200 tonnes of gold from IMF and Russia too came forward as the large buyer with 120 tonnes.

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These purchases have been going on since 2003, but the official figures were revealed during the current year. China’s gold holding now exceeds 1000 tonnes.

Experts opined that gold being a natural hedge against inflation, there are possibilities that the precious metal could touch a newer highs by exceeding USD 1300 per ounce levels in 2010.

The gold stocks in the Indian markets have been bullish even more than the gold itself. Some of the key stocks including Gitanjali Gems Ltd (BOM:532715), Rajesh Exports Ltd (BOM:531500), Renaissance Jewellary Ltd (BOM: 532923), Surana Corporation Ltd (BOM:531102) and country’s leading watch and jewellery maker, Titan Industries Ltd (BOM:500114) posted attractive returns over past one year.

Gold & diamond jewellary maker and exporter, Rajesh Exports Ltd zoomed up by 251.68% to Rs.88.80 during past one year. Renaissance Jewellary gained 128.96% from year-to-date period to Rs.54.95 recently. Surana Corporation Ltd with market capitalization of Rs.82.2 crores yielded returns to the tune of 103.5% from year-to-date period.

Leading branded jewellary meker, Gitanjali Gems Ltd today traded at Rs.123.50 which was up by 72.49% from its year-ago levels, while Titan also yielded impressive returns to its investors during past one year gaining 54.95% since 31st December 2008 to Rs.1427.15 today.

In India, it’s not only the gold, but the gold stocks too are yielding gold-like returns for the investors. In spite of the volatility in the stock markets followed by global meltdown and Dubai World crisis, the stock movement has been attractively positive in recent months.

With gold continue to be a favourite investment mode for the investors with increased liquidity and natural hedge to the inflation, the Indian gold stocks are all set to sail high in the coming year.

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