LONDON, 23 July 2010 — Vietnam's DoanhNhân Saigon Online today includes world-leading gold investment service BullionVault in a report on what's driving Western gold demand.
Vietnam is third largest gold jewellery market in Asia, with per capita demand equal to Germany's but average incomes just one-fortieth the size, according to J.P.Morgan research.
"The [global] gold market has two main needs, jewellery and investment," says the popular news site from the centre of Ho Chi Minh City. "But between 2000 and 2007, gold jewelry manufacturing decreased from 3205 down to 2417 tonnes per year...while investors poured back in."
Quoting Adrian Ash, head of research at BullionVault — the low-cost gold dealing and ownership service online — DoanhNhân also says that Western gold investment looks set to continue, because the European monetary institutions "are not able to find a way out of their current crisis."
You can read the report, in Thai, at DoanhNhân here.
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