Indian gold market
How the Muthoot Family Built a $13 Billion Fortune From India's Gold Obsession
Nov 20, 2025 03:11 pm CST
India's Muthoot Finance has leveraged the country's deep cultural connection to gold into a thriving lending empire. As gold prices surge, this family-run business with nearly nine decades of experience offers quick loans against jewelry collateral, dominating India's shadow banking sector with outstanding loans worth 1.25 trillion rupees. Despite growing competition from both local banks and foreign investors, the Muthoot family's straightforward business model continues to flourish, with their collective fortune now exceeding $13 billion.
Rising Gold Prices Drive Indians to Prefer Coins and Bars Over Jewellery During Dhanteras Festival 2023
Oct 19, 2025 02:13 am CST
Indian buyers shifted preferences to gold coins and bars instead of traditional jewellery during Dhanteras 2023 due to record-high prices, with overall sales volume down 10-15% but higher total value. The industry offered discounts on making charges to maintain interest during the festive season, while silver products also saw strong demand.