Vietnam buys the most gold in Southeast Asia, the world's leading name is no longer China

Over the past year, Vietnam has led Southeast Asia in gold consumption. Meanwhile, the number 1 position in the world has changed as it is no longer China.

The World Gold Council (WGC) recently released its 2024 Gold Demand Trends Report, which recorded global gold consumption reaching 4,974.5 tons, up nearly 1% compared to 2023, marking the highest level since 2011.

Experts explain the increase as a result of significant investment flows and sustained central bank purchases.

In Vietnam, gold consumption demand in 2024 will reach a total of 55.3 tons, a slight decrease compared to 2023 (55.5 tons). However, in Southeast Asia, our country is still the leader in gold consumption demand. Thailand is second with 48.8 tons; Indonesia is third with 47.3 tons; Singapore is fourth with 13.3 tons.

Meanwhile, the world's gold demand has fluctuated. The name at the top of this list is no longer China, but in 2024 it will be Poland. According to experts, after the Covid-19 pandemic and Russia-Ukraine tensions, Poland's demand for gold has skyrocketed. As of the end of September 2024, the country's gold reserves reached about 420 tons, mainly stored at the Bank of England.

Coming in second is Türkiye. This country had only 116 tons of gold reserves in 2013, but 10 years later it had reached 540 tons.

In 2024, India made a notable move by transferring about 100 tons of gold from the UK to its domestic vaults and is expected to bring more in the near future. This move is considered to be aimed at controlling reserves, following the lessons of the 1991 financial crisis.

According to Intellectual Property

Source: https://doanhnghiepvn.vn/kinh-te/viet-nam-mua-vang-nhieu-nhat-dong-nam-a-cai-ten-dan-dau-the-gioi-hien-nay-khong-con-la-trung-quoc/20250207093751147