Sluggish gold demand on economic difficulties

Taking a hit: Vietnam’s economy experienced sluggish growth in the first two quarters of this year, affecting local market sentiment and jewellery demand. — Reuters

HANOI: Demand for gold in Vietnam shrank 9% in the second quarter this year compared to the same period last year due to the economic difficulties, according to the World Gold Council.

In a recent report, the council said Vietnamese purchased 12.8 tonnes of gold in the second quarter of 2023, down 1.3 tonnes year-on-year.