# Prime Minister Narendra Modi urged citizens to postpone non-essential gold purchases.

*business · news · 2026-05-11 · The Hindu Business Line*

## Key points

- Jewellery stocks fell sharply after PM Modi urged postponing non-essential gold purchases.
- Titan Company shares dropped up to 8% despite strong Q4 earnings announced last week.
- Sky Gold and Diamonds shares saw the steepest fall, dropping over 12% during the session.
- Investors now fear a prolonged slowdown in gold demand due to the government's forex conservation push.

**Companies:** Titan Company, Kalyan Jewellers India, Senco Gold, Thangamayil Jewellery, Sky Gold and Diamonds, P N Gadgil Jewellers, Bluestone Jewellery
**Countries:** India

[Read the full story on The Hindu Business Line](https://www.thehindubusinessline.com/markets/jewellery-stocks-titan-kalyan-jewellers-sky-gold-senco-tumble-up-to-12-after-pm-modis-gold-purchase-appeal/article70964443.ece)

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