Laos Surges to $33M in Three Days of Gold Sales
Laos saw a surge in gold sales during the Lao Gold Festival 2026, with consumers buying 230 kilograms of gold worth $33 million in just three days. This defied softer global demand and rising prices, indicating that Asian buyers are not shying away from the precious metal.
The festival attracted over 50,000 visitors, driving strong sales and deposit transactions. According to Laos Gold and Jewelry Association Vice President Chanthavong Phamisith, 'People in Laos believe gold is a safe investment. They hedge against risks such as currency depreciation, inflation or economic stress.'
Gold prices have stabilized between $4,000 and $4,200 an ounce since declining sharply from an all-time high of over $5,500 in January 2026. The surge was driven by the West Asia conflict, which pushed investors towards gold as a safe haven.