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In Vietnam, savers sitting on 400-tonne gold hoard rejoice at price boom

South China Morning PostCenter-RightEN 1 min read 100% complete by Agence France-PresseJanuary 30, 2026 at 06:31 AM
In Vietnam, savers sitting on 400-tonne gold hoard rejoice at price boom
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AI Summary

short article 1 min

In Vietnam, where gold is a traditional store of wealth, a recent surge in global gold prices is creating financial strain for some. Many Vietnamese borrow gold from relatives to finance construction projects, with the expectation of repaying the debt in gold. Trinh Tat Thang, a Vietnamese man who borrowed four "luong" bars of gold (approximately 4.8 troy ounces) in 2022 to build his house, now faces a significantly increased debt burden due to the near tripling of gold prices. He is struggling to repay his relatives, highlighting the challenges faced by others in Vietnam who have similar gold-denominated debts. The country is estimated to hold a collective 400-tonne gold hoard.

Key Entities & Roles

Key Player Opposition Context
Hanoi 60% United States Dollar ×270% Trinh Tat Thang 90% Vietnam 90%

Keywords

gold price 90% vietnam 80% savers 70% gold hoard 70% debt 60% wealth 50% loans 50% one-luong bars 40%

Sentiment Analysis

Negative
Score: -0.40

Source Transparency

Source
South China Morning Post
Political Lean
Center-Right (0.50)
Far LeftCenterFar Right
Classification Confidence
85%
Geographic Perspective
Vietnam

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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gold pricevietnamsaversgold hoarddebtwealthloansone-luong bars
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