The prices have been declining at global as well as domestic markets.
The gold imports stood at $5.57 billion in November 2014, according to commerce ministry data. The figure for November this year is the highest in the current fiscal.
The contraction in imports helped narrow the trade deficit to $9.78 billion in the previous month. It stood at $16.2 billion in November 2014.
India is the largest importer of gold in the world, the demand of which mostly comes from the jewellery industry.
In 2014-15, gold was the third-largest commodity imported to India after crude oil and electronic items. That fiscal, the country’s imports stood at $34.32 billion.
CAD was down at 1.6 per cent of GDP at $8.2 billion in the September quarter, mainly due to a lower trade deficit.