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A lot of folks have probably seen this already, but for those who haven't, from today's FT: http://www.ft.com/cms/s/0/5541c9a6-4...0779fd2ac.html
There was a time that people in a similar situation would have flocked to the world's reserve currency. Now, they flock to the "barbarous relic" . . . well, at least until their government prevents them from doing so.
But the recent collapse of the local equity and property markets, inflation which hit 25 per cent in May and concern about the weakness of both the US dollar and the dong have spurred a big increase in local demand for gold.