Akshaya Tritiya: Gold Holdings of Indian Households Exceed Major Nations' Reserves
Synopsis
Ahead of Akshaya Tritiya, a report reveals that Indian households own an astonishing 11-16% of all above-ground gold ever mined, surpassing the reserves of major nations like the US and Russia. Discover the implications of this trend and its impact on wealth preservation.
Key Takeaways
Indian households hold 11-16% of all mined gold.
Gold surpasses the reserves of major nations like the US and Russia.
One in three households in India holds gold.
Gold is regarded as a multigenerational asset in India.
Recent price rallies are driven by central bank purchases.
New Delhi, April 16 (NationPress) Households in India possess approximately 11% to 16% of all the gold that has been mined above ground, surpassing the total national reserves held by the United States, Germany, Italy, and Russia, according to a report released ahead of Akshaya Tritiya on April 19.
The report highlights that the recent fluctuations in gold prices, following the nomination of Kevin Warsh to the US Federal Reserve, indicate a mere short-term adjustment while the underlying demand remains robust, as noted by the digital investment platform InCred Money.
It was revealed that one-third of Indian households actively choose to hold gold as a means of preserving their wealth for the long term. At its highest, the private gold reserves in India were estimated to exceed 100% of the nation’s gross domestic product.
According to the report, “This is a belief passed down through generations, shaped by cycles of inflation, currency crises, and geopolitical tensions. Gold has consistently been regarded as India’s premier alternative asset.”
The report detailed that the 90% surge in gold prices from March 2025 to March 2026 can be attributed to ongoing central bank purchases of more than 1,000 tonnes annually since 2022, alongside significant policy actions, such as the freezing of $300 billion in Russian foreign exchange reserves in 2022, highlighting the risks associated with dollar-denominated assets.
Furthermore, the Reserve Bank of India (RBI) has successfully repatriated gold reserves from London, and China’s directive in 2025 for its largest insurers to allocate up to 1% of their assets into physical gold also mirrors this trend.
This policy shift in China could potentially redirect $45–53 billion, translating to approximately 630–750 tonnes of gold over three years, which represents 15–20% of annual global gold production.
Gold exchange-traded fund (ETF) schemes have shown impressive average one-year returns ranging from about 58.81% to 62.85%, while five-year compounded annual growth rate (CAGR) returns hover around 25.78% to 26.11%.
In 2025, the price of domestic silver surged by over 170%, while domestic gold prices increased by more than 76%, outperforming major benchmarks such as the Nifty and S&P 500.
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Point of View
The report underscores the enduring significance of gold in Indian households, reflecting a deep cultural belief in its value as a long-term asset. This trend not only highlights the financial strategies of Indian families but also the broader implications for global gold markets.
NationPress
1 May 2026
Frequently Asked Questions
What percentage of gold do Indian households own?
Indian households own between 11% to 16% of all the gold ever mined above ground.
How does Indian gold ownership compare to other nations?
Indian gold holdings surpass the combined national reserves of the United States, Germany, Italy, and Russia.
What impact does the Reserve Bank of India have on gold reserves?
The Reserve Bank of India has repatriated gold reserves from London, influencing local and global gold markets.
How have gold prices fluctuated recently?
Gold prices have seen significant swings due to central bank buying and geopolitical events, reflecting ongoing structural demand.
What were the returns on gold ETFs?
Average one-year returns for gold ETFs range from approximately 58.81% to 62.85%.
