It is true that the gold reserve in America is around 9,000 tons-the largest in term of reserves held by the banks. But, India holds the most gold to the tune of 13,000 tons, even though Indians buy gold coins and gold bars in lesser quantities when compared to Americans.
The gold in India is most in the form ornaments worn on human beings and on Hindu Gods. I would say India is the only country that has realized the true wealth of gold.
Indians invest in gold heavily mainly because it offers easy liquidity. While this applies to the middleclass citizens, the majority of other classes of people store gold jewels in their home and in safe vaults provided by the bank.
There was an interesting study, which revealed that, Indian cities have more jewel shops than food grains shops.
As the U.S. Gold Bureau rightly pointed out, Indians sees the beauty of a gold bar in its proven ability to diversify their savings, protect their wealth and preserve their social status.
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