Though Vietnam has no digital gold market, nearly half of the investors said that they may buy gold on online channels, according to the report.
"Investors’ interest in gold is great as they believed that gold helps fight inflation and currency fluctuations, making them feel secure in the long term," the report wrote.
"The demand for gold in the country is very strong. When the financial system in the country develops, it will lead to the development of the gold market, increasing the accessibility and confidence in gold," said Naylor.
Despite the impact of the Covid-19 pandemic, Vietnamese gold retailers outperformed the market, of them in 2020 PNJ's profit exceeded 29% compared to its planned target.
In 2019, Vietnam’s consumer demand for gold was about 56.4 tons, ranking first in Southeast Asia.