Indian households hold gold worth over US$ 950 billion which in turn is around 50 % of the country's GDP in dollar terms.
Indian households hold 18000 tonnes of gold which represents 11 % of the global stock. Notwithstanding the 64 % cumulative rise in gold prices, between January 2010 & September 2011, gold consumption in India in volume terms is still holding strong.
( Source Macquarie, an Indian research firm)
Regards
NJ
