Gold prices have reached unprecedented heights, marking a significant milestone for the second day in a row. As of March 19, domestic futures recorded gold prices soaring to Rs 90,000 per 10 grams, spurred by rising geopolitical tensions and economic instability in the United States.

In the global market, spot gold peaked at $3,018.66 per ounce, while US gold futures approached $3,027. This remarkable ascent can be attributed to various factors, including the ongoing conflict between Israel and Hamas, market concerns regarding US Federal Reserve policies, and a weakened US dollar, which has now fallen to a five-month low beneath 103.

Impact on Gold Stocks in India

This surge in gold prices has inevitably affected gold-related stocks across India. However, despite the price increase of gold, many leading gold stocks have seen substantial declines in their year-to-date (YTD) performance. Here’s a breakdown of how some prominent gold stocks are faring in 2025.

Kalyan Jewellers: A Significant Drop

Kalyan Jewellers, a well-known name in the Indian jewellery sector, recently saw its stock rise nearly 2%, trading at Rs 441.45 per share during intraday trading. Despite this minor upturn, the company has faced a staggering 43% decline YTD in 2025.

• Recent Performance:
  • 5-day change: +6%
  • 1-month change: -8%
  • 6-month change: -37%
  • 1-year change: +21%

The stock’s 52-week high stands at Rs 795.40, while its 52-week low is Rs 336.05, indicating it is currently trading approximately 44% below its peak.

PC Jeweller: A Volatile Year

Currently trading at Rs 14.15, PC Jeweller’s stock has experienced a tumultuous year, with a 13% decline YTD. However, there have been recent signs of recovery.

• Recent Performance:
  • 5-day change: +8%
  • 1-month change: +15%
  • 6-month change: +2%
  • 1-year change: +140%

The company recently unveiled a significant debt resolution plan, approving the issuance of 51.71 crore shares to creditors in an effort to settle Rs 1,510 crore in debt. Its 52-week high is Rs 19.30, and its 52-week low is Rs 4.40, indicating it is trading around 27% below its peak.

P N Gadgil Jewellers: A Steady Decline

P N Gadgil Jewellers has seen its share price rise over 4% recently, but it is still grappling with a 19.54% YTD decline.

• Recent Performance:
  • 5-day change: +4.33%
  • 1-year change: -32.60%

The stock is currently priced near its 52-week low of Rs 491, significantly lower than its 52-week high of Rs 848.

Senco Gold: A Major Decline

Senco Gold’s stock recently surged 5% to Rs 249.30, driven by increased investments from the promoter, Jai Hanuman Shri Siddhivinayak Trust. Despite this uptick, the stock has faced a staggering 53% decline YTD.

• Recent Performance:
  • 1-month change: -19%
  • 6-month change: -59%
  • 1-year change: -28%

Currently, Senco Gold is trading close to its 52-week low of Rs 227.40, which is a dramatic drop from its 52-week high of Rs 772.

Tribhovandas Bhimji Zaveri (TBZ): Mixed Results

TBZ shares rose 5% to Rs 174.30 recently, yet the stock has experienced a 27% decline YTD.

• Recent Performance:
  • 6-month change: -37%
  • 1-year change: +74%

While TBZ is currently trading lower than its 52-week high, it remains significantly above its lowest point.

Conclusion

The recent surge in gold prices has created a complex landscape for gold-related stocks in India. With geopolitical tensions and economic uncertainties at play, investors must navigate these fluctuations carefully. Keeping an eye on these stocks and market dynamics is crucial for informed decision-making in this volatile environment.