India has the World`s largest holding of privately held gold.
July 29, 2022
Golden Day For India- Gets a Bullion Exchange
This is , also , a National asset which comes in handy at the times of National emergencies like in 1962 China War , 1993 foreign exchange crisis etc, when common Indians gave their personal Gold to the Govt.
As the saying goes.
Q .What is the Golden Rule ?
A. He who owns the Gold makes the Rules.
There is a Saying in the World Bullion Markets
" As long as there are Monsoons and Marriages in India Price of Gold cannot Fall "
Our family in National emergencies , in 1993 and also in 1962 gave to the Govt. substantial quantities of gold ornaments. The gold , in primary form , was later returned .But the Govt never acknowledged our gesture.