ગુજરાતી
English
3500 Tons of Gold in Gujarat Homes, 100 Tons Purchased Annually
Dilip Patel
Ahmedabad, December 30, 2025
Due to high prices, buying gold has become difficult. Indian households possess so much gold that its value exceeds the GDP of several countries. Morgan Stanley estimated that Indian households hold approximately 34,600 tons of gold. At current market prices, its value is around $5 trillion, or 450 lakh crore rupees.
If Gujarat is considered to represent 10 percent of the country’s population, then it could account for 3500 tons of gold. Gold imports increased by 154 percent in February 2024 compared to February 2023. In February 2023, Gujarat imported 5.47 metric tons of gold, while in February 2024, 13.9 metric tons of gold arrived in Gujarat.
Compared to the 41.88 tons of gold imported during the 12 months of 2022-23, this year, from April to February (11 months), 78.21 metric tons of gold were purchased in Gujarat.
Adani’s copper factory has started operations in Kutch, and it is producing 50 tons of gold annually. This directly means that Adani is producing 50 percent of the gold purchased by the people of Gujarat in its factory.
Every year, India imports 800 to 900 tons of gold, most of which is used by the jewelry industry and for investment purposes. Of this, 10 to 12 percent is imported into Gujarat. It is estimated that 100 tons of gold are purchased in Gujarat every year.
Approximately 244,000 metric tons of gold have been discovered worldwide. Of this, 187,000 metric tons of gold have already been extracted, and 57,000 metric tons of gold are still underground.
In 2025, the price of gold in the international market will be $4,500 per ounce (English weight) or ₹1,42,700 per 10 grams in Indian weight.
According to the International Monetary Fund (IMF), India’s GDP is currently around $4.1 trillion (approximately ₹370 lakh crore).
Since 2024, the RBI has purchased approximately 75 tons of gold. This has increased the RBI’s total gold reserves to 880 tons. Gold now constitutes about 14 percent of India’s total foreign exchange reserves. According to data from the World Gold Council (WGC), India is the second-largest buyer of gold in the world, with China at number one with 28 percent, while India is at number two with 26 percent.
According to an Oxford report, 11 percent of the world’s gold is held by Indian households alone. This is more than the combined gold reserves of the US, Switzerland, Germany, and the IMF.
After India, the Saudi royal family is the largest owner of gold. According to a report by a global bullion supplier, the Saudi royal family purchased a large amount of gold with oil revenues in the 1920s and became the owner of hundreds of tons of gold.
The third-largest owner of gold is American investor John Paulson. He purchased several tons of gold. Between 2011 and 2013, when gold prices were soaring, Paulson earned $5 billion from gold.
Economists believe that gold kept at home can be called idle money because it is an ‘idle asset’ (an asset that does not generate any income).
Silver broke all records with a surge of ₹14,387 and touched a new all-time high of ₹2,54,174. Gold reached a new record high of ₹1,40,444.
The US has 8133.5 metric tons of gold reserves.
Germany is in second place with 3359.1 metric tons of gold.
Italy is third in gold reserves with 2451.8 metric tons of gold.
France has 2,436.97,
Russia has 2,335.85,
China has 2,264.32,
Japan has 845.97 tons of gold.
India has 840.76 tons of gold.
The Netherlands is ninth with 612.45 tons,
Turkey has 584.93 tons of gold. The World Gold Council has released a list of the top 10 gold-producing countries for 2025.
China is in first place, producing 380.2 tons of gold. 11% of the world’s gold production comes from the Shandong, Henan, and Jiangxi provinces. The country is heavily investing in domestic and foreign gold assets.
Russia is in second place with 330 tons of gold production. This is bolstered by large reserves in Siberia and the Far East. Political isolation has increased dependence on mining.
Australia is in third place with 284 tons of gold production. Western Australia plays a major role. Advanced technology and stable regulations have kept production strong. Expansion of existing mines has been supported in 2024.
Canada is fourth on this list with 202.1 tons of gold production. Gold production has increased in the provinces of Ontario, Quebec, and British Columbia. Large companies consider gold a part of their long-term strategy. The United States ranks fifth on this list with a gold production of 158 tons. The state of Nevada is the center of gold production in the US. American producers have benefited from high gold prices, which has led to increased investment in exploration.
Ghana is sixth on the list with a gold production of 140.6 tons. It is the largest gold producer in Africa, with both large mines and small-scale operations contributing to production. The government is implementing reforms to legalize artisanal mining and attract foreign investment.
Mexico is seventh on the list with a gold production of 140.3 tons. Established mines in regions like Sonora, Zacatecas, and Guerrero are performing well. They benefit from favorable geological conditions and a skilled workforce.
In eighth place is Indonesia, with 140 tons of gold production.
Indonesia is on the list with a production of 1 ton of gold. The Grasberg mine in Papua is the main focus here. The country has increased domestic participation in mining, which has impacted investment, but the export of refined gold has boosted revenue and foreign exchange.
In ninth place is Peru, with 136.9 tons of gold.
This is a production-based list. Political instability and protests have caused difficulties. The gold industry is a strong pillar of the country’s economy. Areas like Cajamarca and La Libertad are key contributors.
In tenth place is Uzbekistan, which produces 132 tons of gold. State-owned companies like Navoi Mining are performing very well here. The country is leveraging its mineral wealth through modernization and foreign participation. India is not currently included in this list of the top 10 gold-producing countries. (Translated from Gujarati by Google Translate)
