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Indian housewives hold 11% of the World's gold - ABN

Mon, Dec 08, 2014, 04:29 PM
India's fascination for gold continues as Indian housewives hold gold worth staggering $950 billion or more equaling to 50% of the India's GDP. Gold consumption is part of India's culture and tradition and the country is the world's largest consumer of gold after China. Indian households hold 18,000 tonnes of gold representing 11% of the global stock as per the research firm, Macquarie. According to Macquarie, 78% of India's $329 billion in household savings was held in gold in 2009-10. Watch for more..
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