Demand for gold in Vietnam shrank 9% in the second quarter this year compared to the same period last year, according to the World Gold Council’s latest report.
Vietnamese people's gold demand shrinks in Q2 (Photo: VNA)
Hanoi (VNA) - D♒emand for gold in Vietnamshrank 9% in the second quarter this 𓆉year compared to the same period last year, according to the World Gold Council’s latest report.
Vietnamese purchased 12.7 tonnes of goldin Q2, down 1.3 tonnes year-on-year. Vietnam’s economy experienced a sluggish growth in thefirst two quarters of this year, affecting local market sentiment and jewelrydemand. Local demand for gold bars and coins dropped by 5% year-on-yearfrom 9.6 tonnes in Q2 last year to 9.1 tonnes in the same period this year. Meanwhile, demand for gold jewelry lowered from 4.5tonnes to 3.7 tonnes. Shaokai Fan, Head of Asia-Pacific (exclude China) andGlobal Head of Central Banks at the World Gold Council, said the Q2 downward trend in Vietnam was like those in other marketsin the ASEAN region. The demand for gold bars and coins was also limiteddue to low liquidity, affected by the downturn of the stock market and realestate, he added./.
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Vietnamese people's gold demand shrinks in Q2 (Photo: VNA) 
