from Bullion Star
The Indian gold market is one of the world’s largest and most extensive gold markets, with an estimated 23,000 tonnes of private gold held within India’s borders. In India, gold is revered and held as a traditional form of savings and wealth preservation, particularly in the form of gold jewellery. With minimal gold mining production, Indian gold demand is predominantly met by gold imports, both official and unofficial (smuggling).
Unlike China, where the Chinese government actively encourages its citizens to invest in physical gold, in India the government wages a constant War on Physical Gold. Despite this war, Indian citizens largely ignore their government and continue to purchase physical gold in large quantities.
This infographic guides you through the following characteristics of the Indian Gold Market: