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India
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Jun 21, 2025
India's gold reserves dwarf Pakistan's economy
According to a new World Gold Council report, Indian households and temples together own about 25,000 tons of gold—valued at $2.4 trillion.
That's nearly six times Pakistan's GDP and even bigger than the economies of Italy or Canada.
TL;DR
Gold's significance in India
Gold remains a big deal in India, both culturally and financially.
Even though only a tiny portion gets used as collateral or invested through official schemes, demand jumped 15% this year after customs duty was cut.
UBS thinks prices could reach $3,500 per ounce by 2026, and while demand might dip slightly next year before bouncing back with expected pay hikes, India's overall economy is staying steady thanks to strong trade and remittances.