Gold has long been a symbol of wealth, tradition, and cultural significance in India, especially among women who have a deep-rooted connection to gold jewelry. It plays a central role in celebrations, particularly weddings, where gold is an essential part of every tradition. Whether in the form of intricate bridal jewelry or simple gold bars, no Indian wedding is considered complete without the gift of gold. This longstanding affinity for gold has led to Indian women amassing significant quantities of it, often passed down through generations. As a result, India has emerged as a global leader in gold ownership, particularly in household gold. According to a report by the World Gold Council, Indian women collectively own around 24,000 tons of gold, representing 11% of the world’s total gold reserves in the form of jewelry.
In fact, the amount of gold Indian women wear is greater than the total gold reserves of the top 5 countries.
According to a report, the United States has a total gold reserve of 8,000 tons, Germany holds 3,300 tons, and Italy has 2,450 tons of gold. France possesses 2,400 tons, while Russia has 1,900 tons in gold reserves. Even if the gold reserves of these countries are combined, they still wouldn’t match the gold owned by Indian women.
A report by the Oxford Gold Group reveals that Indian households possess 11% of the world’s gold, surpassing the combined reserves of the USA, the International Monetary Fund (IMF), Switzerland, and Germany. Globally, the USA holds the largest official gold reserves, amounting to 8,133.5 tonnes, which constitute 75% of the nation’s foreign reserves, according to the Economy and Markets report. Germany ranks second with 3,359.1 tonnes, reflecting significant investments in gold by Germans in recent years. Notably, Germany also leads globally in gold purchases. Italy follows in third place with 2,451.8 tonnes of gold.
When it comes to gold ownership, women from South India lead the way. The southern region holds 40% of the country’s total gold, with Tamil Nadu alone accounting for 28% of it.
World Gold Council (WGC) India’s Director Somasundaram said the 2020–21 study indicates that Indian households own 21,000–23,000 tonnes of gold. By 2023, it had grown to a mass of over 25 million kilograms, or roughly 24,000–25,000 tonnes. With this quantity of gold, 40% of India’s GDP is covered.
According to the Income Tax laws, married women are allowed to hold up to 500 grams of gold, while the limit for unmarried women is set at 250 grams. Additionally, men are permitted to possess only up to 100 grams of gold.
