gold chaos in Viet Nam Sounds like all kinds of bizarre stuff is happening with gold in Viet Nam - government is trying to prevent it from being used for large transactions like real estate. Olympus can't diversify away from Viet Nam fast enough. Got to escape from the 'Viet Nam discount'.
Gold supplies dwindle ahead of ban
HA NOI (VNS)— Gold owners were ordered by State Bank Governor Nguyen Van Binh earlier this year to sell their gold holdings, but little progress seems to have been made towards the goal.
Economist Pham Do Chi questioned the ability of the central bank to mobilise gold from private holdings at a time when gold prices have been rising.
Banking Academy lecturer Nguyen Trong Tai said that the pulling gold from circulation was necessary for economic development but that commercial banks represented a weak link. Many lack experience in managing gold trading, and they have now been ordered to stop lending in gold by November 25.
https://vietnamnews.vnanet.vn/Economy/230122/gold-supplies-dwindle-ahead-of-ban.html
Upset at myself for missing the spike low. Tried to get cute and hold out of a half cent less.