Vietnam has highest gold demand in Southeast Asia
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%. Of the figure, jewelery accounted for 12 tonnes, up 11%; and gold bar and coin 31.1 tonnes, a slight increase from the previous year.
A recent survey showed that 72% 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% in 2021, and gold bar and coin surged 31% in the past eight year.
