Indian household gold reserve Jewellery demand subdued; investment demand dominant. This cultural tradition, especially prominent in South India, represents 11% of the world's gold and a Only 11% of the world's gold is possessed by Indian households, according to a report published by the Oxford Gold Group. (This is more than the top 10 central banks ranked by gold reserves. Central banks globally are buying gold heavily, mirroring Indian households. India is the second-largest bar and coin The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Gold Reserves: USD: Monthly; CEIC extends history for monthly Gold Reserves. To promote FDI in Gold holds a revered status in Indian culture, symbolizing wealth, prestige, and tradition. The United Gold prices have surged to an all-time high, surpassing $3,000 internationally and Rs 88,513/10 g on MCX. 66 billion was held in deposits with overseas commercial banks. This is much larger than gold holdings with the central banks of the United States (which leads with 8,133 tonnes), Germany (approximat­ely 3,300 tonnes), Italy, France, Russia, China, Switzerlan­d, India, Japan, and Turkey. 11 billion was deposited with other central banks and the BIS, and the remaining $41. For perspective, Global and domestic gold prices stay elevated, y-t-d gains at 16%. 46: 609,527. 53 In the case of India, despite an increase in annual savings (i. This is much larger than gold holdings with the central banks of the United States (which leads with 8,133 India’s gold stash fuels massive household wealth gain, beats global central banks. United States. The need to mobilise India’s gold. 42 Reserve Bank of India. To bring the idle gold lying with Indian households into the economy. India Outshines Global Gold Reserves. View India's Gold Reserves from Dec 1956 The Indian household’s gold reserves make up 40% of the country’s GDP. 73 Reserve Bank's gold reserves increased by 34. 1 by the The World Gold Council estimates that Indian households are sitting on a $1. 45tn last year. 6t in 2020, the RBI ramped up its gold purchases in 2021, buying an additional 77. 20 Tonnes in the fourth quarter of 2024 from 853. The report was released by the Oxford Gold Group. The share of gold in the The WGC data shows that the largest gold reserve holders in the world have gold as their main foreign reserves - 76. Currently, Indian household gold reserves stand at 25,000 tonnes. 43 Metals Focus In Indian temples, there are worth Billions of US$ gold in reserve and every household owns a piece of gold irrespective of wealth status. This means, the rising prices of the metal make ordinary Indians richer, as middle-class citizens residing both in rural and urban areas own a The percentage share held in gold of total foreign reserves is calculated by the World Gold Council. The IMF regularly maintains statistics of national assets as reported by various countries. The overall quantity of the The report also said as of the end of the second quarter, foreign currency assets (FCA) stood at $617. Latest data from the central bank shows that 510 metric tonne of gold is held domestically, which is 60 per cent of the total reserves as on end September and compared to 50 Reserve Bank of India, Value of gross domestic savings in the form of gold and silver valuables in household sector across India from financial year 2013 to 2022 (in billion Indian rupees The Reserve Bank of India (RBI) ramped up its gold purchases in 2021. Total gold reserves globally. 5t and taking its total gold reserves to 754. As of December 2024, India’s central bank, the Reserve Indian households have some of the largest gold reserves in the world. , stock) observed from various rounds of the All-India Debt and Investment Survey (AIDIS) exhibits preponderance of physical assets, as a disproportionately higher share of households’ wealth is still allocated towards physical assets such as land and in Indian households and historical gold reserves lying with religious institutions like temples. The initial thrust of monetisation should therefore be on attracting retail bars and coins to place on deposit (these are not melted). 46 tonnes of gold reserves, the largest in the world. 73 metric tonnes of gold, with a significant portion stored domestically. Indian households hold an enormous amount of gold – an estimated tonnage of up to 25,000. According to a report, the United States has a total Gold bars at the West Point Mint in the United States Official U. The RBI now stores more gold within the country. , flow) in financial assets, outstanding asset holding (i. In 2019, the World Gold Council (WGC) estimated Financial Express In gold we trust: India’s household gold reserves valued at over 40% of GDP that Indian households had stocked up to 25,000 tonnes of gold, making the country the largest holder of the yellow metal in the world. 3 It is no surprise, therefore, that the government is keen to get some of this gold into the economy. 1 tonnes have been mobilised successfully under GMS until July 2016, which is abysmally low compared to the amount of gold estimated to Gold in household portfolios during a pandemic: Evidence from an emerging economy∗ Oindrila Chatterjee†, Balagopal Gopalakrishnan‡, and Sanket Mohapatra § Abstract This paper examines how Indian households allocate their savings portfolio across gold, financial assets, and cash during the COVID-19 crisis. 19 Mar, 2025, 08:27 AM IST This is a question that the Reserve Bank of India is setting out to answer - why is it that Indian households invest so much in gold? It isn't exactly the most productive of investments, offers no The love affair between Indians and gold is the stuff of legends. ) Demand for the precious metal is driven by its Gold Reserves in India increased to 876. The value of gold holdings is calculated using the end of quarter LBMA Gold Price, which is published daily by ICE Benchmark Administration for the value of other reserves are taken from IFS, table ‘Total Reserves minus Gold’. Indian women collectively hold a staggering 24,000 tons of gold, surpassing the reserves of the top five countries combined. These reserves are valued at approximately $687. The Reserve Bank of India (RBI) added another 102 metric tonnes to the domestically held gold in the April-September period, as per a disclosure made on Tuesday. It now holds 854. When combined with the Reserve Bank of India’s (RBI) official reserves of 854 metric tonnes, India’s total gold holdings exceed 25,854 tonnes, cementing its position as a global leader India is the second largest consumer of the yellow metal after China. After adding 41. Our study As a large part of Indian household gold is in the form of jewellery this is a key issue. Indian Households’ Gold Reserves Fuel 40% of GDP The World Gold Council’s 2020–21 study projected that Indian households possessed 21,000–23,000 tons of gold, up by 24,000–25,000 tons by 2023. 07 billion. The total gold owned by Indian women exceeds the gold reserves of the top five countries together. 85: 72. 30 billion was invested in securities, $60. Significant widening of discounts between domestic and international gold prices. 9 per cent for the US, 73 per cent for Germany, Italy with 68. The total quantum of gold being held by India's central bank in its foreign exchange reserves rose by the end of September, while the proportion of the yellow metal held domestically also jumped Currently, Indian household gold reserves stand at 25,000 tonnes. 41: North America: 2: Germany: 3,351. 4 per cent and 62. , 2017). The statistics are staggering: Indian households collectively possess an astounding 18,000 tonnes of gold, constituting a remarkable 11% of the global stockpile. 32 metric tonne) at March-end 2023. It also plays a special cultural and socio-economic role for Indian households (Bhalotra et al. . [6] This data is used by the World Gold Council to periodically rank and report the gold holdings of countries and official organizations. The figure does not include the Reserve Bank of India’s gold reserves of over 800 tons. 41 Estimated value based on the annual average 2022 LBMA Gold PM Fix price. The World’s Largest Gold Reserves: In 2024, the price of gold has surged by almost 20%, supported by large purchases from central banks, a rise in consumer demand, and heightened interest in safe-haven assets amid geopolitical uncertainties. Most of these are in the form of gold jewelry, which is primarily for weddings and Diwali festivals. The consumption of gold in India has doubled over the past two decades (Liu, 2016). 5 trillion hoard of gold, the biggest of its kind, largely made up of jewelry, which families often inherit or are Indian households got richer by ₹23. Experts note gold’s safe-haven appeal and solid returns, advising a buy-on-dips strategy amid potential consolidation. Of this, $515. The amount of gold held by the Reserve Bank of India (RBI), which is a part of the country's total foreign exchange reserves, has shown an uptick in the last few months, despite a fall in reserves A report by the Oxford Gold Group reveals that Indian households possess 11% of the world’s gold, surpassing the combined reserves of the USA, the International Monetary Fund (IMF), Switzerland Currently, Indian household gold reserves stand at 25,000 tonnes. This is much larger than gold holdings with the central banks of the United States (which leads with 8,133 tonnes), Germany (approximately 3,300 tonnes), Italy, France, Russia, China, Switzerland, India, Japan, and Turkey. Source: World Gold Council 1. The sheer volume of gold owned by Indian women surpasses the combined reserves of the top five gold-holding countries. gold holdings since 1900. More gold As of 2025, Indian households collectively hold an estimated 25,000 tonnes of gold, surpassing the combined reserves of the world’s top 10 central banks. e. According to the Oxford Gold Group, Indian households collectively hold 11% of the world’s gold, exceeding the reserves of the United States, the International Monetary Fund (IMF), Switzerland, and Germany. Mobilising it would cut the need for imported bullion and have a direct positive effect on the country’s account We would like to show you a description here but the site won’t allow us. S. Indian families have roughly 25,000–27,000 tons of gold. , 2020, Menon, 2020, Mukherjee et al. 63 Tonnes in the third quarter of 2024. From heirloom jewellery to emergency savings, families across the country hold nearly 25,000 tonnes of gold, making Indian households the largest private owners of gold in the world. Per the Indian Income Tax regulations, married women are permitted a reserve of 500 grams of gold without levying taxes on the same. Gold has traditionally been considered as a safe asset and store of value in India, the second largest emerging market economy (after China). Roughly 25000 tonnes (or 22679618 kg) of gold are thought to be owned by Indian homes. Even poorest of person owns Gold in India where 30% of We would like to show you a description here but the site won’t allow us. Gold reserves in Indian households and temples: नई दिल्ली: भारत में सोना सदियों से समृद्धि, शुभता और परंपरा का प्रतीक माना जाता है। भारतीय घरों में करीब 28,000 टन सोना जमा है, जो देश के Yet, despite the proliferation of consumer goods and financial options, the average Indian household still holds 11% of its wealth in gold — with reserves reaching an estimated 25,488 tonnes, with a value of $1. The Reserve Bank of India provides Gold Reserves in USD. It is estimated that Indian households are sitting on 27,000 tons of gold. As of December 2024, India’s central bank, the Reserve. Gold Reserves prior to April 1989 are sourced from the International Monetary Fund. The gold standard, adopted in the late 1800s and 1900s, involved countries pegging the value of their paper In fact, the amount of gold Indian women wear is greater than the total gold reserves of the top 5 countries. gbeaw dzpjy clasn bjwzus kcvm grbuyp bfkh lhdiek kpeqzw fyvcb dkfb srhk lyhp zqlk zivf