Gen Z Transforms India's Gold Market: Unlocking $3.4 Trillion in Idle Wealth
India's relationship with gold is undergoing significant changes, driven by the emerging preferences of Gen Z consumers. A report by the World Gold Council (WGC) highlights how this younger generation views gold not just as a symbol of tradition and inheritance but also as a financial asset that offers convenience, liquidity, and flexibility.
The WGC's Swarnim Udaan 2047 report points out that Indian households collectively own more than 31,000 tonnes of gold, valued at nearly Rs 315 lakh crore ($3.4 trillion). This wealth remains largely locked away in homes, making it one of the country's largest underutilized financial assets.
The report emphasizes the importance of integrating gold into a broader financial ecosystem beyond traditional jewellery consumption. It recommends creating stronger links between gold monetization schemes, recycling networks, electronic gold receipts, digital gold, bullion banking, and gold-backed financial products to mobilize idle household gold and circulate it through the economy.