Laos Gold Rush: Record Sales Amid High Prices Fuel ASEAN Hub Ambition

Despite high gold prices, buyers in Laos are continuing to invest in the precious metal. In fact, during the recent Lao Gold Festival 2026, consumers purchased a significant 230 kilograms of gold worth US$33 million over just three days.

This event has further reinforced the government's goal of establishing Laos as ASEAN's gold hub. The festival attracted over 50,000 visitors, driving strong sales and deposit transactions.

Lao Gold and Jewelry Association Vice President Chanthavong Phamisith attributed this trend to the local population's trust in physical assets rather than bank balances or stocks. He stated that 'people have more trust in physical assets rather than having a bank balance or stocks. It is also easily convertible to cash and the best way to save their wealth.'

The gold industry in Laos has grown rapidly over the last decade, with 900 gold shops, 5,000 goldsmiths, and about 20,000 artisans contributing to its growth.