Jewellery stocks lose Rs 60000 crore in three days after Modi gold push and duty hike

The hit came from two policy moves at once

Jewellery stocks have fallen as much as 20% over three sessions, wiping out nearly Rs 60,000 crore in investor wealth. The slide follows PM Narendra Modi’s call for households to defer gold purchases and the government’s hike in gold import duties. Analysts say the damage may be sentiment driven, with no structural threat to India’s long-term gold demand.