The Golden Wealth Effect

Feeling wealthier these days? If you hold gold that’s surely one factor that has lifted your spirits and finances. You’re part of a golden wealth effect, one of the greatest increases in financial assets the world has ever seen, thanks to 2025’s explosive jump in the price of gold.

Through late October, gold had soared $1,500 an ounce for the year to more than $4,100 an ounce, enhancing the net worth of those who own gold bars and coins, as well as gold jewelry.

Globally, the increase in wealth is eye popping. There are a total of 48,634 metric tons of gold bars and coins in the world, accounting for 22 percent of all gold that has been mined in history, according to precious metals consultant Metals Focus. That amounts to more than 1.7 billion ounces of gold bars and coins. Multiplied by $1,500, the wealth increase for those bars and coins is more than $2.5 trillion!

Global holdings of gold jewelry are even greater than gold bars and coins. Metals Focus puts worldwide holdings of gold jewelry at 97,149 metric tons, equivalent to more than 3.4 billion ounces. Factoring in the price jump of gold yields a wealth increase of more than $5.1 trillion!

Nowhere is this golden wealth effect being felt more than in India, where gold is revered as a symbol of wealth and good fortune, and is given as a gift for weddings, religious holidays, and the birth of a child. Indian households own about 34,600 tons of gold, according to investment firm Morgan Stanley, which means the nation’s household wealth has soared in 2025 by more than $1.8 trillion.