Lagatar24 Desk
New Delhi: India’s total gold reserves, including holdings of the Reserve Bank of India (RBI) and households, have crossed a staggering valuation of ₹30 lakh crore ($3.29 trillion). This makes India’s gold stockpile larger than the GDP of several countries and nearly ten times higher than the nation’s total foreign exchange reserves.
RBI’s Record Gold Reserves
As of September 30, the RBI holds 879.58 metric tonnes of gold, the highest in its history. The value of this stock has risen sharply to ₹10.28 lakh crore ($115.7 billion), compared to ₹2.74 lakh crore a year ago. The increase reflects both additional purchases and the steep rise in global gold prices.
Households Own The Bulk Of India’s Gold
Indian families collectively own an estimated 25,000 tonnes of gold, accounting for over 95% of the country’s total reserves. At current prices, this translates to a value of ₹29.21 lakh crore ($3.29 trillion). This is not only the world’s largest private gold stockpile but also surpasses the official reserves of the top 10 central banks combined.
Gold Outpaces Stock Market Returns
Over the past year, gold prices have outperformed the Indian stock market, delivering higher returns for investors. On Tuesday, gold was priced at ₹1,17,561 per 10 grams, reflecting a sharp rise. Experts note that this surge has bolstered household wealth and reinforced India’s position as the world’s top consumer and holder of gold.
