Vietnamese gold consumption demand surges in Q3
VOV.VN - Local consumption demand for gold during the third quarter of the year reached 12 tonnes, marking an increase of 264% compared to the same period from last year, according to the latest report from the World Gold Council (WGC).
Demand for gold bars and coins totaled 8.5 tonnes, a year-on-year rise of 254%, while demand for jewelry stood at 3.5 tonnes, marking a rise of 290%.
The WGC also reported that global gold consumption demand in the third quarter of the year hovered at around 1,181 tonnes, rising by 28% compared to the same period from 2021.
Andrew Naylor, head of ASEAN and Public Policy of the WGC, attributed the growing demand for gold and jewelry to local festivals, along with the recovery of businesses moving into the post-COVID period.
Gold has always been regarded as a safe-haven for both investors and retail consumers, particularly amid geopolitical turmoil internationally, he added.