• Source:JND
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Jewellery stocks, including Kalyan Jewellers, Senco Gold, Titan, PC Jeweller and others nosedived up to 9 per cent during early trade on Monday amid heavy selling pressure after Prime Minister Narendra Modi appealed to avoid buying gold for a year.

Speaking at an event in Hyderabad, the Prime Minister urged people to avoid buying gold for a year as the country bears the pressure of rising trade deficit amid weakening Rupee due to surge in oil prices amid the West Asia war crisis.

Jewellery Stocks Crash

The gold and jewellery stocks were trading significantly lower at around 12:00 PM.

Kalyan Jewellers Share Price: The company shares were trading at Rs 392.50, down Rs 32.05 or 7.55 per cent.

Titan Share Price Today: The Tata Group's stock, which deals in jewellery and other consumer products, was trading at Rs 4,213.20, down Rs 95.80 or 6.56 per cent.

Senco Gold Share Price: The shares of Senco Gold were trading at Rs 29.80 or 8.16 per cent lower to Rs 335.60 amid selling pressure.

PC Jeweller Shares Today: PC Jeweller Stock fell by Rs 0.39 or 4.11 per cent to Rs 9.11 per share.

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Gold, Silver Price Today

The gold and silver rates in the domestic and international markets traded contrary to each other, with gold prices falling a bit while Silver rates jumped slightly. In early trade, MCX Gold, June 5 expiry, fell over Rs 600 to a low of Rs 1,51,892 per 10 grams as compared to last day's closing of Rs 1,52,530. On the other hand, MCX Silver, July 3 expiry, escalated Rs 3,000 to a high of Rs 2,64,922 per kilogram against the previous closing of Rs 2,61,922.

The Trends were seen in the international market as well. At the time of writing, COMEX Gold was trading $47.70 or 1.01 per cent lower at $4,683 per ounce. COMEX Silver was quoted at $80.945, up 0.10 per cent.

Stock Market Today

Meanwhile, the key domestic equity indices were trading over 1 per cent lower due to broad-based selling amid a spike in crude prices, weak global cues after US President Donald Trump declined Iran's proposals. AT the time of writing, BSE Sensex was at 76,441.65, down 886.54 points or 1.15 per cent. Nifty50 quoted at 23,923.60, down 252.55 points or 1.04 per cent.

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Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.


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