New Delhi, Sept. 7 -- Elevated gold prices, coupled with tighter access to unsecured credit are creating a strong growth outlook for India's gold-financing industry, according to a report by Antique Stock Broking.

As per the brokerage house, India's gold-financing market, valued at Rs 18.6 trillion, remains structurally "underpenetrated." Meanwhile, higher gold prices and tighter access to unsecured credit have driven gold non-banking finance companies (NBFCs) to a ~55 per cent AUM CAGR during FY24-26.

It highlighted in its report, "Indian households hold an estimated ~34.6k tonnes of gold, equivalent to ~89% of India's GDP and ~3.1x household equity holdings," adding, "only ~2.95-3.35k tonnes of this stock is currently pledged as colla...