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Due to the record-high gold prices, the value of these gold holdings of Indian families has surged exponentially in recent months.
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India gold holdings: India, the world’s fifth-largest economy, is one of the fastest growing economies in the world, and this can be gauged from the fact that Indian families hold the distinction of being the largest private owners of gold globally.
Indian families more gold than 10 major central banks
According to a recent analysis by AK Mandhan, a SEBI-registered Research Analyst, Indian households possess a whopping 25,000 tonnes of gold, an amount which surpasses combined gold reserves of the world’s top 10 central banks, including those in the United States, Germany, Italy, France, Russia, China, Switzerland, Japan, Turkey, and India’s own Reserve Bank of India (RBI).
Mandhan noted that owing to the record-high gold prices, the value of these gold holdings of Indian families has surged exponentially in recent months. Gold was priced at Rs 75,549 per 10 grams at the end of September 2024, thus 25,000 tonnes, or 2.5 billion grams, has an approximate value of Rs 188.9 lakh crore.
According to AK Mandhan, the wealth of Indian households has witnessed a major appreciation due to the increase in gold prices, which have surged significantly, rising 35% in FY25. Gold prices rose from Rs 68,420 per 10 grams in April 2024 to Rs 92,150 for the same amount in March 2025.
“Assuming Indian households held 25,000 tonnes of gold, a 35% appreciation in gold prices would result in a substantial increase in the total value of these holdings. This aligns with reports indicating that Indian households saw an approximate $400 billion increase in wealth over a nine-month period due to rising gold prices,” the analyst noted.
Why Indian households treasure gold?
As per economists, beyond its decorative allure, gold serves a financial purpose for Indian families, as it acts as a shield against rising inflation, currency instability and economic crisis. In rural India, gold is the primary alternative to the regular banking system, serving as a sort of financial shield wrapped in tradition.
Notably, India is the second-largest consumer of gold globally, and remains as the preferred means of investment for rural and middle-class families.
AloJapan.com