In India, gold is not just a commodity but a symbol of prosperity, tradition, and deep cultural significance. Even today, buying gold is considered more auspicious than investing in property. A traditional Indian wedding is incomplete without the gifting of gold jewelry—necklaces, bangles, earrings, and the quintessential mangalsutra to the bride. This deep-rooted custom has fostered a unique and intimate relationship between Indian women and gold. This affinity is reflected in global statistics. Indian women collectively own more gold than women in countries like the United States, Germany, Italy, France, and Russia combined. In fact, they possess 11% more gold than the combined reserves of these nations.
India’s Gold Treasure
According to the World Gold Council, Indian women own approximately 24,000 tonnes of gold, accounting for about 11% of the world’s total gold reserves. Much of this gold has been cherished within families for generations, passed down as heirlooms, and continues to grow over time. South India has a particularly strong affinity for gold. The region accounts for 40% of India’s total gold reserves. Among the southern states, Tamil Nadu leads with a staggering 28% share of the gold reserves.
Indian households are home to a vast treasure of gold. The World Gold Council’s 2020-21 report estimated that Indian households owned between 21,000 and 23,000 tonnes of gold. By 2023, this figure had increased to 24,000–25,000 tonnes. This steady growth highlights the enduring cultural and financial value of gold in Indian society. The price of gold surged by 28% in 2024, and the World Gold Council predicts a further increase in 2025. As gold continues to hold its position as a reliable investment and cultural symbol, its significance in India is only set to grow.