A survey on trends in demand of gold and buying activities of Vietnamese people and recommendations

Abstract

The article analyzes the current situation of demand and gold buying trends of Vietnamese people in the period 2010-2024, based on data from the World Gold Council (WGC) and a survey of more than 1,000 consumers. Using descriptive statistics as the research method, the results show that people's demand for gold remains stable but there are changes in investment forms due to the impact of management policies and market conditions. Specifically, due to the limited supply of gold bars and the high difference in domestic prices compared to the world, consumers have turned to buying gold rings - a product with high liquidity and less constrained by regulations. The survey also showed that most people buy gold for the purpose of accumulating assets rather than investing for profit, in which the decision to buy and sell is mainly based on personal financial situation rather than gold price fluctuations or macroeconomic factors. Notably, the demand for gold is still popular even when consumers do not spend much of their income on investment, reflecting a strong belief in the value of gold as a safe asset preservation channel. The research results contribute to clarifying gold consumption trends in Vietnam and emphasize the role of management policies in regulating the market, ensuring stability and access to gold for people