Vietnam Is Trying to Get Tons of Hoarded Gold Back Into Circulation
For generations, Vietnamese families have stashed gold as protection against hard times. Now rising prices are testing the government’s grip on the market.
An employee handles gold bracelets inside a jewelry shop in Hanoi, Vietnam, on Feb. 19, 2024.
Photographer: Linh Pham/BloombergFor weeks, 67-year-old Le Thi Minh Tam has been scouring Hanoi for gold to give her son at his upcoming wedding, battling long queues outside shops whose stock sells out fast.
“I’m getting worried, as I still don’t have enough,” Tam says with a sigh. “They don’t sell gold bars anymore, only gold rings with a very limited amount for each customer.”