Having sold 20 taels of gold for more than one billion dong, Nguyen Hong Minh in Hanoi doesn't know what she would do with the money. Minh regularly bought 1-2 taels a year over more than 10 years as savings. As the gold price has escalated to VND60 million per tael, Minh could make a considerable profit. "It is unsafe to keep cash. But I don't think it would be wise to continue to buy gold. The gold price has become too high and it will decrease in some days," she said. Minh regrets that she did not buy real estate 10 years ago. A friend of hers then suggested investing VND300-350 million in real estate, but she decided to buy gold, which was priced at VND35 million per tael. Now, she can have VND600 million from selling 10 taels of gold, but with this amount of money, real estate has become unaffordable for her. In 2010-2020, the prices of houses in Ba Dinh district in Hanoi increased by 335 percent, while prices in district 5, HCM City rose by 213 percent. Meanwhile, the gold price increased by 22 percent only during the same time and the VN Index 45… Read full this story
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