India’s extremely rich allotted six per cent of their wealth in direction of gold in 2022: Report

India and Chinese language Mainland had been positioned second on the checklist with a 6% wealth allocation in gold by the UHNWIs of the respective nations in 2022. Austria ranked first on the checklist with 8% allocation. Gold allocation by the Indian ultra-wealthy people stood larger than the typical allocation of UHNWIs from each world and APAC area. In line with the Knight Frank report, in 2022, the typical UHNWI wealth allocation in gold was 3% globally and 4% within the Asia Pacific area.

One of many major causes for the rise within the allocation to gold by the UHNWIs is the numerous returns that gold has supplied over time. The yellow metallic has delivered a stellar over 69% returns up to now 5 years (From FY 2019 to FY 2023). The pandemic, resultant low rate of interest and simple liquidity technique adopted by the worldwide central banks gave a large push to the costs.

Shishir Baijal, Chairman & Managing Director, Knight Frank India mentioned, “Within the wake of uncertainties within the world financial panorama, shoppers resorted to allocate incremental capital to property that supply stability and function a hedge in opposition to inflation. This was captured aptly within the Attitudes Survey in our The Wealth Report 2023, that Indian UHNWIs have allotted larger proportion of wealth to gold (6%) versus the worldwide allocation (3%) in 2022.”