Vietnam ranks 8th among world’s top gold consumers

Vietnam 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.

Vietnam ranks eighth among the countries in the world with the highest gold consumption in the first quarter of 2017.

As per the report, the demand for gold in Vietnam in Q1 was close to 17 tonnes, a slight rise compared to last year.

In the first quarter, China topped the list, with a total demand of 280 tonnes of gold, an increase of 8 per cent compared to the same period last year. India came second with 123 tonnes.

Overall, the total global demand for gold touched 1,035 tonnes in the first quarter of this year, an 18 per cent drop against the same period in 2016.

Vietnam’s gold consumption has declined over the years, from nearly 100 tonnes in 2013 to 58 tonnes in 2016.