HA NOI (Biz Hub) — Gold demand in Vietnam surged by 24 per cent y/y to 23.2 tonnes in the second quarter of 2013, World Gold Council (WGC) said .

The demand for the precious metal stood at 18.8 tonnes in the same quarter of last year, WGC said.

Total jewelry demand rose 25 per cent to 3.2 tonnes, while bar and coin investment demand increased by 23 per cent to 20 tonnes.

In terms of value, WGC said in its latest report that gold demand in Vietnam during April - June period of this year rose by 9 per cent to US$1,057 million as against $972 million in the year-ago period.

Jewelry demand climbed by 10 per cent to $147 million from $134 million, while demand for bar and coin rose by 9 per cent to $910 million.

In 12 months ended Q2/2013, gold demand declined by 26 per cent y/y to 77.4 tons and gold investment value during the period plunged by 30 per cent to $3,963 billion.

The global gold demand in the second quarter of 2013 fell by 12 per cent to 856.3 tonnes worth $39 billion, WGC said.

The consumer market for gold was once again dominated by global leaders India and China, which together accounted for almost 60 per cent of the global jewellery sector and around half of total bar and coin demand. — StoxPlus