How much gold reserves are held by Indian households?

New Delhi, March 31-More than the 'top 10' central banks The relationship between gold and India has reached new heights.

Gold savings

Indian households hold 25,000 tonnes of gold

According to a study by HSBC, Indian households hold more gold than the 'top 10' central banks with the world's largest gold reserves.

Household gold reserves stand at 25,000 tonnes. This is more than the central banks of 10 countries - the US, Germany, Italy, France, Russia, China, Switzerland, India, Japan and Turkey.

As of December 2024.

Central Bank Reserves (in tonnes)

United States [8,133]

Germany [3,300]

Italy [2,452]

France [2,437]

Russia [2,332]

China [2,280]

Switzerland [1,040]

India [876]

Japan [846]

Turkey [615]

Total [24,311]

Of these, the US Federal Reserve has the highest gold reserves of 8,133 tonnes. The German Federal Reserve is next with 3,300 tonnes. As of last December, the Reserve Bank of India's gold reserves stood at 876.18 tonnes.

Due to geopolitical tensions and other factors, central banks of various countries have been buying and accumulating gold in the last few years.

Since 2022, the reserves of the three world central banks have increased by more than 1,000 tonnes in a row.

Banks are showing increased interest in gold as it is considered a safe investment in an uncertain environment.

Notably, the Reserve Bank of India brought over 100 tonnes of gold to India from the UK last year for the first time since the 1990s.