Kalyan Jewellers, Senco Gold Rally as US-Iran Peace Deal Lifts Gold Prices

Mumbai | 15 June 2026 

Jewellery stocks rallied across the board on Monday as a US-Iran peace agreement sent global gold prices sharply higher, lifting sentiment across bullion-linked counters on Indian exchanges. 

What Drove the Rally in Jewellery Stocks? 

Kalyan Jewellers India surged 11.10% to ₹383 on the NSE, touching an intraday high of ₹386.70. Senco Gold advanced 3.50% to ₹350.20, with a day high of ₹358.70. PC Jeweller gained 2.80% to ₹9.17, hitting ₹9.40 at its peak. PN Gadgil Jewellers added 1.65% to ₹556.60, and Titan Company rose 1.19% to ₹4,233.80. 

The gains followed Trump’s announcement that the United States and Iran had reached a framework agreement to end hostilities, with a formal signing expected later this week. 

How Did Global Gold Prices React? 

Spot gold jumped 2.5% to $4,323.29 per ounce, its highest level since 9 June, extending gains for a third consecutive session. US gold futures for August delivery rose 2.5% to $4,343.80 per ounce. Other precious metals also advanced, with spot silver gaining 3.3% to $70.19 per ounce, platinum up 2.8% to $1,765.40, and palladium rising 3.1% to $1,323.22. 

The US dollar fell to a 10-day low following the announcement, making dollar-denominated gold more accessible to holders of other currencies. 

What Does the Strait of Hormuz Agreement Mean for Markets? 

The peace deal includes provisions to reopen the Strait of Hormuz, a critical artery for global trade and energy supplies. Crude oil prices dropped more than 4% on the news, easing inflation concerns across markets. Lower oil prices reduced expectations of tighter monetary policy, lending further support to non-yielding assets such as gold. 

Outlook 

The reopening of the Strait of Hormuz and the easing of US-Iran tensions removed a significant geopolitical risk premium from energy markets. Whether the formal signing proceeds as expected later this week will likely determine the sustainability of the current bullion rally and its follow-through on jewellery sector stocks. 

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