Indian homes hold 34,600 tonnes of gold, valued at $3,785 billion!

India cumulatively held 34,600 tonnes of gold as of June 2025, valued at nearly $3,785 billion at the current gold price of $4056 per ounce (oz), according to a recent note by Morgan Stanley.

- BY S VENKAT NARAYAN OUR SPECIAL CORRESPONDENT

This holding is nearly 88.8 percent of India's gross domestic product (GDP). At the current market value, it is about 3.1x times the current equity stock holding with Indian households, which is valued at $1,185 billion.

India, experts suggest, is one of the largest markets for gold in the world, driven by cultural affinity for the yellow metal, investment demand and economic factors. Its significance as a store of value, hedge against inflation and a safe haven asset have made it an invaluable asset for the Indian household.

According to the World Gold Council (WGC), India accounted for nearly 26 percent of the world's global gold demand as of June 2025 on a four-quarter trailing basis, (versus a 5 year-average of 23 per cent), second only to China, with a share of close to 28 per cent.