What are the monthly Gold Imports for the year 2025 of India ?
India’s Monthly Gold Imports in 2025
January 2025
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Data shows that gold imports in January 2025 rose 34.17% year-on-year, reaching ₹23,176 crore in value terms.
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A Reddit summary also notes imports of approximately ₹22,140 crore (~$2.68 billion), up from ₹15,700 crore ($1.9 billion) in January 2024.
February 2025
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Gold imports dropped significantly, with the import bill falling to $2.3 billion, marking a 14% m/m and 63% y/y decline.
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Cumulative February data indicated further decline in imports, contributing to India’s trade deficit narrowing sharply.
March 2025
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Imports soared by 192.13% to $4.47 billion, reflecting heightened demand amid rising prices.
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In rupee terms, the March import value was ₹38,784 crore, representing a 205% year-on-year jump.
April 2025
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In value terms, imports stood at ₹26,499 crore, up 7.6% year-on-year.
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However, on a month-over-month basis, import value dropped by 31.7%.
May 2025
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Gold imports slipped to ₹21,721 crore, down 10.72% compared to May 2024.
June 2025
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Imports contracted significantly, falling 40% y/y to 21 tonnes (lowest since April 2023).
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In value terms, June imports dropped from $2.48 billion to $1.84 billion.
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Commodity Insights reported the value as ₹15,798 crore, down 23.6% y/y and 27% m/m.
July 2025
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Imports rebounded, estimated at approximately $4 billion, well above the average of the first half of 2025.
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Commodity Insights shows value imports at ₹34,221 crore, up 17.26% y/y and a strong 116% m/m increase.
Summary Table (India Gold Imports 2025)
Month | Value (₹ crore) / (USD) | Change (YoY / MoM) |
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January | ₹23,176 cr (~$2.68 bn) | +34% YoY |
February | – (≈ $2.3 bn) | – 14% m/m, – 63% YoY |
March | ₹38,784 cr (~$4.47 bn) | +205% YoY |
April | ₹26,499 cr | +7.6% YoY, –31.7% MoM |
May | ₹21,721 cr | –10.7% YoY |
June | ₹15,798 cr (~$1.84 bn) | –23.6% YoY, –40% physical |
July | ₹34,221 cr (~$4 bn) | +17% YoY, strong MoM rebound |
Note: August and later data for 2025 are not yet available as of September 2025.
Key Insights
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Volatility in Demand: Gold imports fluctuated sharply, likely in response to price changes and festival-season expectations.
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Mid-Year Dip: January–March showed strong volumes, but June brought a steep decline due to record-high domestic prices. July marked signs of recovery ahead of festive demand.
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Price Sensitivity: The decline in June, despite India’s cultural affinity for gold, underscores the influence of pricing on consumer behavior.
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