The gold demand in Vietnam slumped significantly in the third quarter of this year as the sharp price rise deterred fresh buying, while the world’s total gold demand touched record high, according to the Q3 gold demand trends research recently published by the World Gold Council.

VOV.VN - Vietnam consumed nearly 55.5 tonnes of gold jewelry in 2023, down 6% compared to the previous year, according to the World Gold Council (WGC).

In its recent report, the World Gold Council said demand for gold in Vietnam shrank 9% in the second quarter year on year due to the economic difficulties.

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).

Gold remains a potential investment channel until the end of this year, though the global economy in general, and Vietnam in particular, still possess potential risk factors related to recession and inflation, which make it difficult to forecast the gold price.

Demand for gold in Vietnam fell by 12% year-on-year in the first quarter to 17.2 tonnes, according to the latest Gold Demand Trends report from the World Gold Council.

Vietnamese’s gold demand was estimated to total 12 tonnes of jewellery, bars and coins in the third quarter of this year, representing a rise of 264% year-on-year, according to the latest report by the World Gold Council.

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).

VOV.VN - The nation’s consumption demand for gold during the second quarter of the year reached 14 tonnes, an increase of 11% against the same period from last year, according to figures given on July 28 by the World Gold Council (WGC).

VOV.VN - Vietnam’s consumption demand for gold during the first quarter of the year edged up by 6% against the same period from last year, according to figures given by the World Gold Council (WGC).