Analyst Warns Vietnamese Citizens To ‘Get Out Of Gold Before Its Too Late’
Viet Capital macro analyst Phong Nguyen has a stark warning for Vietnamese investors today: “We believe it’s time to get out of gold before it’s too late.”
Vietnam’s domestic price of gold has been much higher than the international price of gold. And Vietnamese authorities have been struggling to control gold speculation as the spread between domestic prices has widened (see chart).
Nguyen thinks the latest effort to close that gap could smash Vietnamese gold investors.