Gold Prices Near Record High. This rise is boosting jewellery stocks, with big names like Kalyan Jewellers, PC Jeweller, and Titan seeing strong gains. Here’s the latest update on gold rates and how jewellery stocks are performing.
Gold Prices Continue Bullish
After hitting a record high, gold prices kept rising on Wednesday as investors waited for US President Donald Trump’s tariff announcements. A weaker US dollar and global tensions also pushed gold higher.
This year, gold has been one of the best-performing assets, driven by global market trends, import duties, and currency fluctuations. In international markets, spot gold touched $3,125 per ounce, while in India, prices jumped sharply by ₹2,000 in a single day, reaching ₹94,150 per 10 grams in Delhi.
Jewellery Stocks on the Rise
- Kalyan Jewellers soared 7% on Wednesday, continuing its strong monthly gain of 7.3%.
- PC Jeweller rose 1.46% to ₹13.88 per share. The company has cut its debt by half and aims to be debt-free by next March.
- Titan Company climbed 3.62%, despite concerns over weaker Q4 earnings due to high gold prices affecting Tanishq sales.
- Senco Gold dipped slightly by 0.51% after a recent rally.
- TBZ (Tribhovandas Bhimji Zaveri) edged up 0.40%, supported by strong festive demand during Gudi Padwa.
Related Post: 5 Jewellery Stocks Down Up to 60% from 52-Week Highs
Why Are Gold Prices Rising?
- Global uncertainty (trade tensions, geopolitical risks)
- Weaker US dollar
- Strong demand from jewellers and investors
- Higher import duties and currency fluctuations
Related Post: Record-Breaking Rise in Gold Loans: 8 Times Faster Than Consumer Durable Loans?
What’s Next for Gold & Jewellery Stocks?
While gold prices dipped slightly in futures trading (down ₹154 to ₹90,721 per 10 grams), the overall trend remains bullish. Analysts say rising global demand and economic concerns will keep gold prices high.
For jewellery stocks, festive demand and wedding season sales could drive further growth, but high gold prices may impact profit margins for some companies.
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Stay tuned for more updates on gold rates and stock market trends.