Gold prices soar in Vietnam as US-China trade war escalates
“Gold prices in Vietnam jumped 2 percent Saturday after U.S. President Donald Trump slapped another 5 percent tariff on Chinese goods.”
USAGOLD note: Odds are we are going to see more reports like this one out of Viet Nam. The trade war has an indirect consequence for emerging economies of which Viet Nam is just one. These currencies tend to weaken as the dollar strengthens and dollar strength has become collateral damage in the trade war between the U.S. and China. Gold demand, in turn, strengthens in these countries as the populace heads for shelter against currency depreciation and possible financial system risks.