Kalyan Jewellers India share price jumps over 60% against 52-week low. Should you buy amid gold rate rally?

Stock market today: Amid soaring gold prices, Kalyan Jewellers share price today extended the rally for second straight session and touched an intraday high of ₹487 apiece on the NSE. Kalyan Jewellers share price today edged higher and touched an intraday high of ₹487 apiece on the NSE, logging around 63% rise from 52-week low of ₹399.40.

According to stock market experts, jewellery stocks are under pressure due to a decline in demand after a continuous rally in gold prices. They stated that gold prices rose by over 70% in 2025, resulting in a corresponding increase in jewellery prices. This put pressure on demand, leading to a significant impact on the balance sheets of jewellery stocks. However, they expected a rise in Kalyan Jewellers' share price to up to ₹530 apiece and advised investors to hold the stock, maintaining a stop loss at ₹470 per share.

Kalyan Jelwellers share price target

On reason for pressure on Kalyan Jewellers share price, Avinash Gorakshkar, a SEBI-registered fundamental equity analyst, said, “Jerwellery stocks have remained under pressure throughout the year due to the skyrocketing gold and silver prices. Both precious metals have been hitting new peaks on a regular basis. This has resulted in a rise in the raw material of the jewellery company, causing a rise in jewellery prices. So, demand in the jewellery market has gone down, which jeopardised the balance sheet of the jewellery companies. However, some value buying is expected in jewellery stock as the Indian stock market is showcasing some trend reversal signals.”

Expecting a sharp rise in Kalyan Jewellers share price, Sumeet Bagadia, Executive Director at Choice Broking, said, “Kalyan Jewellers' share price is looking poised for an upside on the technical chart pattern. The jewellery stock has made a strong base at ₹470, whereas it is facing a hurdle at ₹510. Breaking above this resistance on a closing basis, Kalyan Jewellers' share price may soon touch the ₹530 apex levels in the near term.”

Amid soaring gold rates today, jewellery stocks have remained under pressure to sell throughout the year. Out of the 10 jewellery majors, only two stocks — Titan Company and Thangamayil Jewellery, have delivered positive returns for their shareholders in 2025.

PC Jeweller remains the biggest laggard, losing 44% in a year, with Senco Gold a close second as its stock has crashed 43.5%. Kalyan Jewellers' shares have plunged 35%, and Sky Gold & Diamonds' shares have dropped 38%. Recently listed players like PN Gadgil, Bluestone Jewellery, and Motisons Jewellers are down 15%, 1%, and 45%, respectively, in a year.

Gold, silver price rally

Gold rate today on MCX hit a new lifetime high of ₹1,35,614 per 10 gm, whereas silver rate today on MCX also climbed to a new peak of ₹2,13,844 per kg. This rally in gold and silver prices was primarily driven by increased speculation about the US Fed rate cuts and robust spot demand. MCX gold February futures were 0.77% up at ₹1,35,224 per 10 grams, while MCX silver March futures were 2.39% up at ₹2,13,412 per kg around 9:15 am, after hitting a record high of ₹2,13,844 per kg. Increased speculations that the US Federal Reserve will cut rates in January supported bullion prices, while healthy spot demand also fuelled buying activity in the futures market.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.