Gold and India go hand in hand- This is one area you guys are not going to beat India.
Indian households may have accumulated up to 25,000 tonnes of gold, thereby retaining the tag of the world's largest holders of the metal, according to the World Gold Council (WGC).
"We conducted a study two years ago and found the household stocks at around 23,000-24,000 tonnes.
https://www.businesstoday.in/current/economy-politics/indian-households-have-stocked-up-to-25000-tonnes-of-gold-world-gold-council/story/348598.html#:~:text=Indian households may have accumulated,at around 23,000-24,000 tonnes.
India rarely invests much in gold, as the country operates under a belief that buying gold leads to a deficit. The country currently holds 557.7 tonnes of gold, making up 9.9 percent of the country’s total forex reserve. Ten percent is the generally agreed-upon ideal average, and India is careful to remain right around that mark for maximum diversification.
China is the world’s number one producer of gold, and yet very little of that gold is held in reserve for the country. Instead, most of it is sold and the profit reinvested in the Chinese markets. In the coming years, however, China looks to be expanding its need for gold, to increase its forex percentage above the current 1.7 percent. China currently holds 1,054.1 tonnes of gold in reserve.
https://www.escapehere.com/inspiration/10-countries-with-the-largest-gold-reserves/#:~:text=India rarely invests much in,the country's total forex reserve.
China's FOREX does include Gold.
https://www.reuters.com/article/us-...reserves-fall-to-3-107-trillion-idUSKBN20U07L
China’s foreign exchange reserves fell less than expected in February as the yuan weakened on fears over the fast spreading coronavirus epidemic and its severe impact on economic activity.
The country’s foreign exchange reserves - the world’s largest - fell $8.779 billion in February to $3.107 trillion, central bank data showed on Saturday.
Economists polled by Reuters had expected reserves would fall by $15.497 billion to $3.100 trillion, likely due to fluctuations in global exchange rates and the prices of foreign bonds that China holds.