New Delhi, Oct 10 (IANS) India’s household wealth held in gold is estimated at 34,600 tonnes, worth around estimated at $3.8 trillion or 88.8 per cent of GDP. This is providing a positive wealth effect on the household balance sheet, with gold prices scaling new highs, according to a Morgan Stanley report released on Friday.

Gold prices are currently at all-time highs, trading around $4,056 per ounce, with domestic prices also reaching record levels of around Rs 127,300 per 10 gms. Year to date, gold prices have risen by 54.6 per cent in US dollar terms and 61.8 per cent in INR terms, the report states.

A preference for financial assets by households has meant that investing in gold through ETFs has picked up recently, with ETF flows tracking at US$1.8bn in the last 12 months. This trend

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