Demand for gold in Vietnam has jumped as investors seek protection from a declining currency and inflation that has accelerated to the highest level in at least 20 months. Vietnam consumes more gold per head than India, the biggest overall user. Spot gold touched an all-time high of $1,431.25 this week on investor demand for an alternative to debasing currencies.
For thousands of years Precious Metals (PM) such as Gold (Au) and Silver (Ag) have been utilized as real money for exchange, wealth store, and metric of value. While I am NOT an advocate of one single commodity backing our money (like a gold standard), I do believe that the price trend of PMs are the most important indicators of the value of fiat money, plus the crimes of corrupt banking corporations and governments that manipulate PM prices. The "Canary in the coal mine" is Gold - AuCanary.
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Vietnam’s BIDV Seeks Government Approval for Gold Exchange
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