India’s gold import value fell 81.27% in September 2026 from a year earlier, while silver import value declined 49.11%, according to the Commerce Ministry’s 15 October release. These are monthly trade observations—not new Sunday bullion prices.
The accompanying official import table labels its figures as values in US$ million. That unit matters: a smaller import bill cannot, by itself, establish the change in physical tonnage or the price a household pays for jewellery.
What the official records show
| Item | Verified information | Official source |
|---|---|---|
| Gold: September 2025 → September 2026 | US$9,615 million → US$1,800 million; rounded table values | Source |
| Silver: September 2025 → September 2026 | US$1,307 million → US$665 million; rounded table values | Source |
| Year-on-year change in the release | Gold −81.27%; silver −49.11% | Source |
| Rounded table changes | Gold −81.3%; silver −49.1% | Source |
| Reference month / release date | September 2026 / 15 October 2026 | Source |
Why the percentages and dollar figures need a precision note
The PDF rounds dollar values to millions and percentage changes to one decimal place. The press release reports the percentage declines to two decimals. Recalculating from rounded dollar inputs can therefore produce a slightly different result; those inputs should not be presented as the unrounded calculation behind the release.
Three different questions for readers
An import value asks how much the recorded cross-border trade was worth. A quantity measure would ask how much metal was imported. A retail quote would describe a specified product, purity, location and time. This table supplies the first measure, not the other two. It does not establish an 81.27% fall in gold’s retail price or a comparable decline in jewellery demand.
Nor does the source establish one cause for the decline. This report attributes no move to a tax change, restriction, festival, investor decision or market forecast. Explaining a cause would require additional evidence rather than an inference from a single month’s total.
Date and practical limit
The figures compare September 2026 with September 2025. CapKet’s publication on 18 October does not turn them into an 18 October price observation. For a buying decision, readers would still need a separately verified current quote and its product and tax basis. No future price or assured saving is established here. More CapKet commodities coverage.
Recorded source observation: (UTC). This is a source-check timestamp, not a market quote or a new article update.