India’s Household Gold Holdings Exceed Those of Major Central Banks
A study by HSBC Global reveals that Indian households possess 25,000 tonnes of gold, surpassing the combined reserves of the world’s top ten central banks. This equates to more gold than held by the U.S., Germany, and others. The Reserve Bank of India itself holds only 876.18 tonnes, highlighting the vast domestic ownership and its influence on global markets.
India’s affinity for gold has significantly increased, as revealed by a recent study conducted by HSBC Global. Notably, Indian households now account for a staggering 25,000 tonnes of gold, surpassing the combined gold reserves of the world’s top ten central banks.
In comparison to the central banks, the United States boasts the largest holdings at 8,133 tonnes, followed by Germany with approximately 3,300 tonnes. Other nations included in this comparison are Italy, France, Russia, China, Switzerland, India, Japan, and Turkey. As of December 2024, the Reserve Bank of India held a mere 876.18 tonnes in its own gold reserves, illustrating the vast difference between household holdings and central bank reserves.
Moreover, Indian consumers are influencing global markets with their substantial gold acquisitions, marking a remarkable trend in gold ownership that affects both local and international economies. This shift reflects not only cultural practices surrounding gold but also its role as a valuable asset among households in India.
In summary, India’s household gold reserves, totaling 25,000 tonnes, now exceed those held by the leading ten central banks globally. This stark contrast emphasizes the unique cultural significance of gold in India, alongside its practical financial implications. As consumers increasingly invest in gold, the trend is likely to have lasting impacts on both domestic and international markets.
Original Source: www.business-standard.com
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