Governor of the State Bank of Vietnam Nguyen Thi Hong said it is reasonable due to restricted supply according to the country’s policy to restrict gold supply sources with an aim to fight dollarisation and goldisation in the domestic economy
With the price of a tael of gold in Việt Nam more than US$800 higher than in the rest of the world, local experts say the local regulation of gold prices is unsuitable.
A tael of gold in Vietnam worth $500 more than world prices vietnamnet.vn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vietnamnet.vn Daily Mail and Mail on Sunday newspapers.
At a gold shop in HCM City. Analysts call for easing
gold policies as it is no longer a speculative asset class or cash substitute (Photo: VNA)
HCM City (VNS/VNA) - With gold no longer being a speculative asset
class or cash substitute, the Government should have a more reasonable policy
for managing it, according to experts.
According to banking expert Dr Can Van Luc said gold cannot be considered
speculative since the Government has put it under strict watch since 2014.
Domestic prices are usually 5 million VND (216 USD) per tael of 37.5gm higher
than global prices, with the gap attributed to the limited supply of both