Gold Imports At 623 Tonnes In 2025, Silver 7158 Tonnes
“Considering the fact that gold and silver prices have done exceptionally well in 2025, India’s imports were robust and it was mainly driven by the investment demand for both the metals”:
CHENNAI: Despite gold prices moving up 75 per cent in the calendar year, India imported 623.6 tonnes of yellow metal in 2025. Silver, on the other hand, found buyers for 7158 tonnes despite becoming over 160 per cent more expensive.
In 2025, gold imports were down 23.2 per cent against 623.6 tonnes against 812.2 tonnes in 2024. Similarly, silver imports too came down to 7158 tonnes in 2025 from 7669 tonnes in 2024, as per the data of Metals Focus.
However, in value terms India’s gold imports were still high at $58.84 billion and around $9 billion in the case of silver.
“Considering the fact that gold and silver prices have done exceptionally well in 2025, India’s imports were robust and it was mainly driven by the investment demand for both the metals,” said Chirag Sheth, founder, Metals Focus.
In the month of December, gold imports in volume terms were down 50 per cent to 30.8 tonnes against 60.2 tonnes in the same month of last year. In value terms, gold imports were just 12 per cent down.
Silver imports in December were 11 per cent lower at 373 tonnes against 421 tonnes in the year ago period. However, in value terms, silver imports were up 80 per cent.
In 2025, monthly gold imports went up beyond 100 tonnes in September and October, ahead of the festive season. Silver, on the other hand, saw imports crossing 1000 tonnes in September and October. However, in 2024, silver imports had surged to 2294 tonnes in the month of February. The calendar year 2025 did not see any extraordinary monthly imports.
“Silver has seen considerable tightness in the global bullion market as the metal was hoarded by investors in New York for the fear of uncertainties,” said Sheth. The tightness in supply also saw silver premiums going through the roof for a brief period in 2025.