Vietnam has highest gold demand in Southeast Asia
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| Vietnam has the highest demand for gold in Southeast Asia (Illustrative photo: VNA) |
Hanoi – Vietnam has the highest demand for gold in Southeast Asia, Andrew Naylor, Regional CEO, Asia-Pacific (excluding China) and Public Policy of the World Gold Council, said during a recent virtual workshop on the Vietnamese gold market.
The demand for the precious metal in Vietnam amounted to 43 tonnes in 2021, posting a year-on-year rise of 8 percent. Of the figure, jewelery accounted for 12 tonnes, up 11 percent; and gold bar and coin 31.1 tonnes, a slight increase from the previous year.
A recent survey showed that 72 percent of Vietnamese consumers believe that gold is a safe asset and they will continue to invest in it in the coming time.
Vietnamese people have a higher rate of gold ownership compared to their regional counterparts, and tend to store gold for the long term.
Naylor said global gold demand expanded 10 percent in 2021, and gold bar and coin surged 31 percent in the past eight year.
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