With Vietnamese investors rushing into gold as a hedge against skyrocketing inflation, Hanoi - which sets an annual quota for gold imports - has withdrawn licences for further imports, traders said yesterday.

The decision comes as record imports of gold bars have made Vietnam the world's biggest market for gold bullion, surpassing India and China and helping to deepen Vietnam's trade deficit.

Welp, now the gangsters have a new business to add to their portfolios. And somehow I think this will do little to stop gold buying, or fix Vietnam's inflation problem.

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