3 times more than Pakistan: This Indian company has more gold than Pak, its name is…

It might come as a surprise that an NBFC in India holds more than three times the gold of Pakistan.

Three Times More Than Pakistan: Gold prices are on fire and making new records every day. Central banks across the world are buying gold due to ongoing uncertainties and the United States’ shutdown. Whether it’s China’s central bank or India’s RBI, the gold reserves have witnessed a sharp increase. As per several reports, Pakistan has also witnessed an increase in its gold reserves. The neighbouring country has a massive gold mine project – Reko Diq, but it is surrounded by a long-standing dispute. Interestingly, a single non-banking finance company (NBFC) in India possesses more gold than the neighbouring country. Gold loan provider Muthoot Finance has not one but three times the gold reserves of Pakistan. Let’s dive deeper into it.

How Much Gold Does Muthoot Finance Has?

According to Shailendra Bhatnagar, Chief Analyst and Editor (Markets) Business Today, stated that Muthoot Finance has a total of 209 tons of gold stored in its safe deposit boxes. This massive figure is three more than the current gold reserve of the neighbouring country. Not only that, the company’s gold also exceeds gold reserves of Brazil and Australia. Islamabad possess a total of 64.7 tones of gold in its reserves, as of January 2025, and ranks 49th in the list of countries with the highest gold reserves.

Here is the list of top 10 countries with highest gold reserves (as of October 1, 2025)

Country	Gold Reserve
America	8,100 tons
Germany	3,400 tons
Italy	2,500 tons
France	2,400 tons
China	2,300 tons
Switzerland	1,000 tons
India	880 tons
Japan	846 tons
Turkiye	637 tons
Pakistan (Ranked 49th)	64.7 tonnes

HIGHLIGHTS

• Muthoot Finance holds 209 tons of gold which is three times Pakistan’s reserves.
• Pakistan ranks 49th globally with 64.7 tons of gold in its reserves.
• Gold stocks like Muthoot and Manappuram Finance are gaining investor focus.
• Experts say current festive demand to boost gold finance companies next quarter.

Gold Finance Companies And Stocks Are In Focus

Investors are now focussing on gold stocks and gold financiers, particularly companies like Muthoot Finance and Manappuram Finance. Shares of both companies have seen significant demand amid the ongoing uncertainty in the stock markets across the world. Notably, investors consider gold as a safe haven during times of economic uncertainty.

What’s Market Experts’ Take On This?

According to market experts, Muthoot Finance remains a key player in the gold finance, but Manappuram Finance is projecting higher growth than current levels. The expert are saying that the impact of festive season demand on these companies will be visible in the next quarter. It is to be noted that gold demand in India usually witnesses a surge during major festival like – Durga Puja, Navratri, and Diwali.