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Vietnamese investors are showing an increasing interest in gold. According to local reports, long lines of people interested in acquiring gold bullion were observed in different branches of banks in Hanoi and Ho Chi Minh. The investors, counted in the dozens, were hoping to take advantage of the direct sale of gold from four state banks in Vietnam, including the Saigon Jewelry Company (SJC), Agribank, Vietcombank, BIDV, and Vietinbank.The gold rush ensued as the central bank announced that it would sell gold directly to these banks to offer it to the general public. This move is expected to lower domestic gold prices that recently reached historic highs compared to foreign market prices. Prices for a tael (37.5g) of gold reached $3,620 last month in Vietnam, and since then, prices have come down to $3,107, with banks allowed to sell each tael with a 1.2% discount over market prices. 

 The domestic gold market in Vietnam is highly regulated, and Vietnamese investors have limited options for investing in gold . However, there is strong support among investors for measures to open new avenues for investing in gold, which could help solidify gold's position in Vietnam's vibrant FinTech landscape