Gold remains potential investment channel

Gold remains a potential investment channel until the end of this year, though the global economy in general, and Vietnam in particular, still possess potential risk factors related to recession and inflation, which make it difficult to forecast the gold price, experts said.

The latest World Gold Council gold demand trend report showed that in Vietnam, gold demand decreased by 12% from 19.6 tonnes in the first quarter of 2022 to only 17.2 tonnes in the first quarter of 2023.

Similarly, the demand for gold bullions and coins also experienced a decline of 10% from 14 tonnes in the first quarter of 2022 to 12.6 tonnes in the first quarter of 2023. Meanwhile, jewellery demand fell by 18% from 5.6 tonnes in the first quarter of 2022 to 4.6 tonnes in the first quarter of 2023.

Explaining the above trend, experts said that the increase in gold price affected the demand for buying gold jewellery and bullions in the Vietnamese market. In addition, the decline of the real estate market and concerns about inflation caused the demand to buy gold to decrease./.

VNA