Akshaya Tritiya: Indian households have 11-16 per cent of all the gold ever mined

New Delhi, April 16 (IANS) Indian households have between 11–16 per cent of all the gold ever mined above ground, more than the combined national reserves of the United States, Germany, Italy and Russia, a report said on Thursday, ahead of Akshaya Tritiya on April 19.

Recent price swings after nomination of Kevin Warsh as US Federal Reserve only show a short‑term correction and structural demand persist, digital investment platform InCred Money said in a note.

The note said that one in every three Indian households voluntarily holds gold as a long‑term store of wealth. India's private gold stock at its peak was estimated to exceed 100 per cent of the country’s gross domestic product.

"It's a multigenerational conviction, built through inflation cycles, currency crises, and geopolitical shocks. Gold has always been India's original alternative asset," the report said.

The note found that the 90 per cent rally between March 2025 and March 2026 was due to sustained central‑bank buying of over 1,000 tonnes annually since 2022 and policy moves such as the freezing of $300 billion of Russia’s foreign exchange reserves in 2022, proving the risks involved in dollar‑denominated assets.