According to a report, the wealth of Indian households is growing significantly, and their holdings of 34,600 tons of gold appreciated sharply after the recent record rise in gold prices. Morgan Stanley economist Upasana Chachra and others wrote that this huge gold reserve, which has been accumulated over several generations, is valued at nearly $3.8 trillion. Against the backdrop of rising gold prices, it is creating a “positive wealth effect” for household balance sheets. For Indians, gold is deeply embedded in culture, religion, and social life. This latest estimate is far higher than the World Gold Council's July 2023 report, which estimated the total gold reserves of Indian households at around 25,000 tons. India is the world's second-largest consumer of gold.

According to a report, the wealth of Indian households is growing significantly, and their holdings of 34,600 tons of gold appreciated sharply after the recent record rise in gold prices. Morgan Stanley economist Upasana Chachra and others wrote that this huge gold reserve, which has been accumulated over several generations, is valued at nearly $3.8 trillion. Against the backdrop of rising gold prices, it is creating a “positive wealth effect” for household balance sheets. For Indians, gold is deeply embedded in culture, religion, and social life. This latest estimate is far higher than the World Gold Council's July 2023 report, which estimated the total gold reserves of Indian households at around 25,000 tons. India is the world's second-largest consumer of gold.