If the gold rush either continues or intensifies without timely interventions by regulators, Vietnam’s macroeconomic targets for 2024 might be affected. Associate Professor Dr. Nguyen Huu Huan at the HCMC University of Economics discussed the issue with The Saigon Times. Behind the trend The Saigon Times: We are witnessing in the local market both high-risk investment portfolios (stocks) and low-risk investment portfolios (gold, U.S. dollar, real estate) increasing in value while the prospects for the economy in 2024 are still unclear. Why? – Associate Professor Dr. Nguyen Huu Huan: One of the reasons is that the deposit interest rates at banks have remained at their lowest levels, making people reluctant to deposit money. They seek other channels to invest their money, diversify investment channels, and seek higher profits. Meanwhile, the world is eagerly awaiting the U.S. Federal Reserve’s interest rate cuts. Many forecasts suggest that if this happens, the U.S. economy in particular, and the global economy in general, will recover. For gold, when the Fed’s funds rate decreases, the price of gold will rise. Expectations are emerging in the global gold market, and domestic investors are in a “fear of missing out” mood. We see not only SJC gold […]
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