#gold?
Gold is a traditional gift in Vietnam (connoting luck), so at a record $4,380 per ounce globally, wedding season is getting very expensive. Vietnam’s gold demand is roughly 55 tons per year, the highest in the region, but it only imported 13.5 tons last year. Demand remains high, though, and people aren’t selling their cache, which means that the price of gold in Vietnam is now 10 to 15 percent higher than the global price. It has become a significant enough issue that the government is overhauling the import monopoly held by the State Bank of Vietnam in a quest to get that price down to a two to three percent premium.
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