Customers buy gold at Phu Quy gold shop in Hanoi. (Photo: VNA)TheWGC also announced the country among the top 10 markets in the world, sayingconsumer demand for gold in Vietnam reached 39.8 tonnes in 2020, higher thanthe demand of 37.6 tonnes in Indonesia and 9.4 tonnes in Singapore.
Thestudy of 2,000 local investors in March last year also said gold is the topasset class for 68 percent of Vietnamese investors while the outlook for theprecious metal was positive, adding 81 percent of people who bought goldconsidered buying more. The average rate for buying more gold is 45 percentglobally.
Accordingto the WGC, demand for gold in Vietnam is still very high as Vietnamese peoplebelieve gold helps fight inflation and currency fluctuations, helpinginvestors feel secure in the long run. At the same time, new demand for goldalso arises by buying gold on digital platforms or through availablechannels such as a bank.
Inthe study, 76 percent of respondents were in favour of opening a goldinvestment account at a bank to support and formalise the gold market.
"Researchshows demand for gold in Vietnam is strong and there is support to develop newinvestment products such as buying gold through digital platforms or opening agold investment account," Andrew Naylor, director in charge of ASEAN atthe World Gold Council, said.
Endingyesterday, SJC gold price was bought at 55.2 million VND (2,379 USD) and soldat 55.6 million VND (2,396 USD) per tael. Compared with gold prices listed onthe global site of Kitco at 1,785 USD per ounce (2,142 USD per tael), each taelof gold in Vietnam was 254 USD higher than the world price./.
VNA
