Value of India's household gold reaches $5 trillion, exceeds GDP: Report

The value of India’s household gold reserves has possibly surpassed $5 trillion mark. A 2024 Morgan Stanley report estimated that Indian households have around 34,600 tons of gold. With global gold prices reaching $4,550 per ounce last week, this translates to over $5 trillion in household wealth. This value exceeds India's GDP, which according to IMF is around $4.1 trillion.