Gold demand in Vietnam fell by 6 percent year on year according to a World Gold Council report, the Vietnam Investment Review is reporting. Consumer gold demand went from 59.1 tonnes in 2022 to 55.5 tonnes in 2023.
Note that Vietnam’s gold prices are generally much higher than in the rest of the world on the back of regulations that have limited its gold supply. For more information see: The Gold Price in Vietnam: Explained 2024.This should be kept in mind when reviewing the data below.
World Gold Council Gold Demand Trends Full Year 2023
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Indonesia | 0.20 | 0.14 | 0.17 | 0.18 | 0.16 |
| Malaysia | 0.54 | 0.40 | 0.46 | 0.57 | 0.50 |
| Thailand | 0.67 | -1.17 | 0.52 | 0.55 | 0.60 |
| Singapore | 2.63 | 1.66 | 2.10 | 2.64 | 2.21 |
| Vietnam | 0.58 | 0.41 | 0.44 | 0.59 | 0.55 |
| Average | 0.92 | 0.29 | 0.74 | 0.91 | 0.80 |
Source: World Gold Council
