Demand for gold in Viet Nam fell by 12 per cent year-on-year in the first quarter to 17.2 tonnes, according to the latest Gold Demand Trends report from the World Gold Council.
Viet Nam was the strongest gold jewellery market in Asia, according to the World Gold Council’s report about gold demand trends in 2017 released on Tuesday.
Viet Nam ranks eighth among the countries in the world with the highest gold consumption in the first quarter of 2017, shows a recent report by the World Gold Council.
Domestic gold prices are currently hovering at a low of VND35 million
per tael, in contrast with previous years when people used to flock to
jewellery stores ahead of Teat.
The price of gold at commercial banks declined sharply yesterday after
the State Bank of Viet Nam announced a commitment to stabilising the
gold and forex market.