India Holds 15 Percent of World’s Gold as Central Banks Rush to Buy Non-Dollar Assets

While global forex reserves total around $12.5 trillion, the gold market is currently valued at $23 trillion, 15 per cent of which is held in India, according to a report released on Monday.

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Of the total mined gold ever, 65 per cent is in the form of jewellery, and a mere 5 per cent shift of global reserves into gold could trigger a sustained and significant rally in its price, according to the DSP Mutual Fund's July 2025 Netra report. Central bank gold reserves are rising, and they bought more safe-haven assets in the last four years than in the previous 21 years. Central bank gold purchases from 2000 to 2016 totalled $85 billion. But in a single year, 2024, central banks bought gold worth $84 billion. In fact, since 2022, Central banks have bought nearly 1,000 tonnes of the precious me