Gold, Silver crash up to 13%; Kalyan Jewellers, gold-loan stocks in focus

Shares of gold-loan providers Muthoot Finance and Manappuram Finance trade at key supports on the charts; face over 11% downside risk. Also check outlook on Titan and other jewellery-related stocks.

Gold and Silver prices have tumbled up to 13 per cent from their respective highs in the last two weeks.  International Gold prices plunged to a low of $3,932 per troy ounce on Wednesday, down 10.6 per cent when compared to its peak of $4,398 registered on October 20, 2025. Similarly, Silver prices crashed to $46.93 per troy ounce, down 12.7 per cent, as against its summit at $53.765 on October 17, 2025.  Will falling Gold, Silver prices be a boon or bane for gold-related stocks in India. Here's what technical charts suggest. 

Titan

Current Price: ₹3,720  Likely Target: ₹4,150  Upside Potential: 11.6%  Support: ₹3,670; ₹3,635; ₹3,600  Resistance: ₹3,800; ₹3,900; ₹3,980; ₹4,070  Technical charts show that Titan stock is favourably placed, with short-term bias likely to be positive above ₹3,600. Near support for the stock is visible at ₹3,670 and ₹3,635 levels. 

 

 

  On the upside, the stock has some resistance around ₹3,800 and ₹3,900; breakout above the latter can potentially open the doors for a likely rally towards ₹4,150. Intermediate resistance can be anticipated around ₹3,980 and ₹4,070. 

Kalyan Jewellers

Current Price: ₹505  Likely Target: ₹585 / ₹400  Upside Potential: 15.8%  Downside Risk: 20.8%  Support: ₹473; ₹450  Resistance: ₹509; ₹522; ₹535  Kalyan Jewellers stock is trading at a crucial juncture, as it tests the 200-Day Moving Average (200-DMA) resistance, which stands at ₹509. The stock has been trading below this key long-term average since August 8, 2025. Other key hurdles for the stock are seen at the 100-DMA at ₹522 and the 100-Week Moving Average (100-WMA) at ₹535. 

 

  On the upside, the stock can potentially rally to ₹585 if the above hurdles are conquered. On the other hand, failure to clear these hurdles could drag the stock back to ₹400-mark; with interim support likely around ₹473 and ₹450. 

P N Gadgil Jewellers

Current Price: ₹660  Likely Target: ₹721  Upside Potential: 9.2%  Support: ₹653; ₹627  Resistance: ₹668; ₹694  P N Gadgil is seen making higher-highs and higher-lows on the daily chart in recent months. The short-term trend is likely to remain up, as long as the stock quotes above ₹627, with near support visible at the 20-DMA at ₹653. 

 

  On the upside, the stock can potentially rally to ₹721, with interim resistance anticipated around ₹668 and ₹694 levels, suggests the Fibonacci half-yearly retracement chart. 

Muthoot Finance

Current Price: ₹3,163  Likely Target: ₹3,350 / ₹2,735  Upside Potential: 5.9%  Downside Risk: 13.5%  Support: ₹3,125; ₹3,080; ₹3,000; ₹2,850  Resistance: ₹3,250  Muthoot Finance stock is seen testing support at the super trend line at ₹3,125 on the daily chart; below which another key support exists at ₹3,080 levels. Breakdown can trigger a short-term correction in Muthoot Finance share price. On the downside, the stock can drop to ₹2,735, with interim support likely around ₹3,000 and ₹2,850. 

 

  Whereas, in the case the support levels hold, the stock can attempt a pullback to recent highs around ₹3,350, with interim resistance visible at ₹3,250. 

Manappuram Finance

Current Price: ₹275  Likely Target: ₹295 / ₹243  Upside Potential: 7.3%  Downside Risk: 11.6$  Support: ₹262; ₹251  Resistance: ₹285  Manappuram Finance is also seen testing support at the daily super trend line, which coincides with the 100-DMA at ₹275. A downside breakout can trigger a slide towards ₹243, with interim support likely around ₹262 and ₹251. 

 

  On the upside, the stock is likely to face resistance around its 20-DMA at ₹285; above which it can potentially test the higher-end of the daily Bollinger Bands at ₹295.