Vietnamese gold consumption demand falls by 9% in Q2
VOV.VN - Local consumption demand for gold during the second quarter of the year reached 12.7 tonnes, marking a decrease of 9% compared to the same period from last year, according to the latest report released by the World Gold Council (WGC).
Demand for gold bars and coins totaled 9.1 tonnes, posting an annual drop of 5%, while demand for jewelry stood at 3.7 tonnes, suffering a fall of 18%.
Shaokai Fan, head of Asia-Pacific (exclude China) and global head of Central Banks at the World Gold Council, said the Q2 downward trend in the country was like those recorded in other markets throughout the ASEAN region.
The demand for gold bars and coins was also limited due to low liquidity, with this being affected by the downturn of the stock market and real estate, he added.
According to information given by the World Gold Council (WGC), global Q2 gold demand, excluding over-the-counter (OTC) market, dropped slightly by 2% on-year to 921 tonnes.
Total gold supply stood at 7% higher on-year at 1,255 tonnes, lifted by growth in all segments. Mine production is estimated to have reached a record for H1 of 1,781 tonnes.
