India's innate fascination with gold continues as Indian households hold gold worth over $950 billion which in turn is around 50 per cent of the country's GDP in dollar terms, says a report.
Gold consumption is part of India's culture and tradition and the country is the world's largest consumer of gold, followed by China.
Indian households hold 18,000 tonnes of gold which represents 11 per cent of the global stock and worth more than $950 billion, around 50 per cent of India nominal GDP in dollar terms, says global research firm Macquarie.
From: http://ping.fm/8n19q
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