Gold stocks fall after PM Modi asks Indians to avoid buying gold

Gold-related stocks fell on Tuesday after PM Narendra Modi reiterated his call for Indians to avoid buying gold unless necessary. Shares of Kalyan Jewellers India fell the most, declining 5.76% to ₹579. Shares of Muthoot Finance, Titan Company, PC Jeweller and Thangamayil Jewellery also declined. "We should refrain from buying gold unless absolutely necessary," PM Modi said.