The 20-year-old was hoping to bring the curtain down on the Copper Box Arena in style as she faced off against Spaniard Carolina Marin in the showpiece.
And Gilmour, who is Britain's highest ranked player at number 34 in the world, looked like dong exactly that as she came flying out of the blocks to lead 15-8.
However the Scottish number one was soon pegged back by Marin and Gilmour eventually succumbed, losing 21-19 21-9.
"This is my first major final," Gilmour said. "Maybe I wasn't ready to win it but getting to this point is a big positive for me. It's a great experience.
"It was tricky. We've never played against each other before now so there was a little bit of figuring each other out at the start.
"I got ahead but she clawed it back but it was a really good game and I really enjoyed it.
"I just need to get a bit more solid in the longer rallies. I'm fit physically so it's just about getting pushed that little bit extra."
There was more disappointment for the home crowd however as England pair Chris Langridge and Heather Olver also fell at the final hurdle.
The duo were up against German second seeds Michael Fuchs and Birgit Overzier in the mixed doubles final and fell to a 21-19 21-14 defeat.
Langridge said: "It just didn’t happen. Credit to the Germans, they played well.
"If we don’t play well enough and they play well, it's going to be comfy for them. It really is gutting."