Jewellery stocks slide after Modi urges Indians to buy less gold
Last Update Date: 05-10-2026
Published by Mint
Abhishek Kumar's role: Quoted
Abhishek Kumar said investors using gold to diversify have moved towards financial forms of gold, while households that keep gold for savings or a fallback in hard times, especially in rural India, still largely hold it in physical form.
More of Abhishek's views on mutual funds
Mint reports on a fall in jewellery retailers' shares after the Prime Minister urged Indians to buy less gold to ease pressure on foreign exchange reserves. The article covers industry concerns about demand and financing, India's gold import bill, gold exchange schemes and the chance of higher import duties.
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Jewellery stocks slide after Modi urges Indians to buy less gold