India Gold ETF Inflows Hit INR34.4 Billion as June Imports Slump 42%
Updated
Updated · World Gold Council · Jul 17
India Gold ETF Inflows Hit INR34.4 Billion as June Imports Slump 42%
3 articles · Updated · World Gold Council · Jul 17
Summary
INR34.4 billion of net inflows went into Indian gold ETFs in June, the strongest since February, even as overall consumer demand stayed subdued and bar-and-coin buying cooled.
An 11% drop in international gold to about $4,000 an ounce and a 10% fall in domestic prices to near INR141,000 per 10 grams drew dip buyers into jewellery, ETFs and digital gold.
Digital gold purchases rose 4% month on month to INR25.5 billion, while retailers said old-gold exchange volumes climbed another 10% to 20%, in some cases making up as much as 70% of jewellery sales.
Gold imports fell 42% from May to $1.97 billion—the lowest since June 2025—as soft demand, high inventories and recycled supply reduced the need for fresh shipments.
Domestic discounts narrowed from nearly $150 an ounce in May to about $20 in early July before widening to $40 by mid-July, signaling market normalization but still ample local supply.