That is the estimate by the RBI and the World Gold Council (WGC). If there one asset class that has captured the imagination of Indian people over the last hundreds of years it is gold. Families have bequeathed gold over generations on the belief that it is the only asset that does not lose value due to its unique indestructible nature. It is estimated that all the gold that has been mined in history is still floating around in some form and that is what makes gold unique. It is estimated that Indian households own close to 24,000 tonnes of gold which has a market value of nearly $1.12 trillion. Now that is a huge stash! And most of this gold is in held in physical form since digital gold and gold ETFs are recent introductions in the Indian market.