Gold import growth slows sharply in May as RBI flags deceleration, ETF outflows
RBI's Financial Stability Report notes a third straight monthly decline in gold import growth, with May imports at USD 12 billion. Gold ETFs saw a Rs 725 crore net outflow in May versus a Rs 24,039 crore inflow in January, signaling cooling demand relevant to India's jewellery retail category.
RBI's Financial Stability Report flags substantial deceleration in gold import growth in May after PM Modi's appeals to curb consumption, with third consecutive monthly decline and gold ETF outflows — relevant to India's jewelry retail category.
Why this matters
RBI's Financial Stability Report extends its run of policy and market signals shaping retail finance, following recent moves to tighten credit-on-UPI rules and keep NBFCs out of the consumer lending rail.
Retail-company signals are accelerating, up +451300% QoQ.