Same with Vietnam massive amounts of wealth kept in gold as well as US currency as the local currency is too prone to inflation. It's not just about using it for investment purposes more just parking wealth and having it at least hold it's current value.
Banks were paying 8-9% interest on the VND when I was over there vs 2-3% for the USD. Massive restrictions on buying and selling gold and it entering or leaving Vietnam now but a few years back it was crazy. Now with a relatively closed market you have an internal POG which exceeds the market price by $50-100/oz at times.
