US Midterm Elections Jewellery Stocks to Watch as Gold and Silver Rates Jump: Titan, Kalyan, Senco and Sky Gold
- November 4, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Gold Dec fut Rs 1,42,820 (+2.42%), silver Rs 1,87,397 (+4.28%). Titan +4.2%, Kalyan +4.1%, Sky Gold +6.5%, Thangamayil -5.5%. Price data 3:50 PM IST.
Quick Answer
US midterm elections jewellery stocks rallied on 4 November as gold and silver rates jumped, with MCX gold up 2.4% and silver up 4.3%. Titan rose 4.2%, Kalyan 4.1% and Sky Gold 6.5%, while Thangamayil fell 5.5%.
US midterm elections jewellery stocks moved sharply on 4 November, a day after the US vote, as gold and silver rates jumped on MCX. Gold rose about 2.4% and silver about 4.3%, and five of six major jewellery names gained. This guide lists the prices, what history says about gold after midterms and the risks to check.
Prices are NSE and MCX data as of about 3:50 PM IST on 4 November 2026. Gold and silver are December futures. The US midterm election was held on 3 November 2026, and this article on US midterm elections jewellery stocks does not assume any particular result. This is not a recommendation.
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Gold and Silver Rates Today
| MCX December futures | Price | Day change |
|---|---|---|
| Gold (per 10 grams) | Rs 1,42,820 | +2.42% |
| Silver (per kg) | Rs 1,87,397 | +4.28% |
Even after today’s jump, gold and silver rates sit below recent levels. MCX gold traded near Rs 1,47,300 to Rs 1,47,650 on 15 October, so it is about 3% lower, and silver was near Rs 1,95,971 on 26 October, so it is about 4% lower, by our arithmetic. A rebound in gold and silver rates from a lower base is not the same as a new high.
US Midterm Elections Jewellery Stocks: Prices Today
| Stock | Price (NSE) | Day change |
|---|---|---|
| Titan Company | Rs 4,754.40 | +4.22% |
| Kalyan Jewellers India | Rs 529.05 | +4.10% |
| Senco Gold | Rs 311.25 | +3.63% |
| Sky Gold and Diamonds | Rs 927.20 | +6.54% |
| PN Gadgil Jewellers | Rs 581.60 | +1.05% |
| Thangamayil Jewellery | Rs 4,285.90 | -5.45% |
Among US midterm elections jewellery stocks, Sky Gold and Diamonds led with a 6.5% rise, while Thangamayil fell 5.5% even as the metals rallied, so the sector is not moving as one block. Thangamayil’s rights entitlements are also trading, which can add price noise. Anyone tracking US midterm elections jewellery stocks should compare each company, not the group.
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What History Says About Gold and Silver Rates After US Midterms
| Observation | Source and detail |
|---|---|
| Gold rose in 62% of six-month windows after midterms | World Gold Council data since 1970, median gain about 2% |
| Gold bounced after the vote in 2014, 2018 and 2022 | But only two of those three lows held, per a September 2026 analysis |
| Either result could support gold | View of CPM Group, September 2026 |
For US midterm elections jewellery stocks, the pattern is a tilt, not a rule. A 62% hit rate means gold also fell in about 38% of post-midterm windows, and a median gain of 2% over six months is modest. The US dollar and Federal Reserve policy usually matter more for gold and silver rates than the election itself.
What Moves US Midterm Elections Jewellery Stocks
| Driver | Effect on jewellery stocks |
|---|---|
| Rising gold prices | Can lift inventory value but may dampen volumes |
| Import duty changes | The May 2026 duty hike hit Kalyan and Senco, which fell up to 6% |
| Government appeals on gold buying | Reports link falls of up to 12% to the Prime Minister’s appeal to avoid gold |
| Festive and wedding demand | Supports store sales through the season |
| Quarterly margins | Senco fell 10% after weak Q1 profit and margins |
Brokerage views on jewellery stocks differ by company, and current gold and silver rates matter as much as dated targets. In August, Motilal Oswal preferred Titan and Kalyan with Buy ratings and targets of Rs 6,000 and Rs 800, but kept Senco at Neutral with a target of Rs 404. Those targets are dated and are not Univest views. For a broader list, see our jewellery stocks to buy watchlist.
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Risks to Check Before Buying Jewellery Stocks
| Risk | What to check |
|---|---|
| Volatile metal prices | Gold moved 2.4% in a single day |
| Policy risk | Import duty and gold-buying appeals |
| Valuation gaps | Titan trades at a premium to peers |
| Single-day moves | A midterm-linked jump can fade |
| Company-specific results | Q2 numbers will differ by company |
Conclusion
US midterm elections jewellery stocks rallied with gold and silver, but one-day moves after a US vote rarely settle a trend. History tilts mildly in gold’s favour, while policy and valuation risks remain. Use the table as a watchlist, compare each company’s results and check gold and silver rates before acting.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on US Midterm Elections Jewellery Stocks
Which jewellery stocks rose on 4 November 2026?
Ans. Sky Gold and Diamonds rose 6.54%, Titan 4.22%, Kalyan Jewellers 4.10%, Senco Gold 3.63% and PN Gadgil Jewellers 1.05% on the NSE. Thangamayil Jewellery fell 5.45% in the same session.
What are the gold and silver rates today?
Ans. MCX December gold futures were at Rs 1,42,820 per 10 grams, up 2.42%, and silver at Rs 1,87,397 per kg, up 4.28%, at about 3:50 PM IST on 4 November 2026. Retail rates differ by city and include taxes.
Do US midterm elections affect gold?
Ans. Historically gold has risen in about 62% of six-month windows after midterms, with a median gain near 2%, according to World Gold Council data. The dollar and interest rates usually matter more than the election itself.
Do gold price rises help jewellery stocks?
Ans. Not always. Higher prices can lift inventory value, but they can also reduce volumes. Stocks such as Thangamayil fell today even as gold rose, so company results and demand matter as much as the metal.
What risks do jewellery stocks face?
Ans. Key risks are volatile gold prices, import duty changes, government appeals to avoid gold buying, weak quarterly margins and rich valuations. Reports link falls of up to 12% in the sector to such policy signals.
What did brokerages say about Titan and Kalyan?
Ans. In August 2026, Motilal Oswal gave Buy ratings to Titan and Kalyan with targets of Rs 6,000 and Rs 800. These are dated views and may have changed, so check the latest research.
Is Thangamayil falling despite the gold rally?
Ans. Thangamayil fell 5.45% to Rs 4,285.90 while gold rose 2.42%. Its rights entitlements are trading, which can affect price behaviour. Check company announcements for the reason, because we have not found one.
Should I buy jewellery stocks after the midterm elections?
Ans. This article cannot give a personal recommendation. One day of gains does not set a trend. Review valuation, results and metal prices, size any position carefully and consult a SEBI-registered advisor before deciding.
