Recent record high gold prices in Vietnam have in part been caused by ‘impatient’ buyers, Tuoi Tre is reporting. A number of buyers were waiting for the gold price to go down but as it reached record highs they gave up waiting and bought into the market anyway pushing the price up further, the publication says.
It also says that the Vietnam Gold Business Association–the VGBA–is pushing for more imports suggesting that three gold firms be allowed to import up to 500 kilograms of gold each year. The supply shortage is estimated to be about 20 tons.