The selling price of SJC-branded gold bars in the domestic market jumped to VND85.7 million ($3,360) per tael on November 20, up VND700,000 ($27.4) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Meanwhile, the selling price of gold rings rose VND600,000 - VND800,000 ($23.5 - $31.3) per tael compared to the previous day, to VND84.9 million - VND85.5 million ($3,329 - $3,353) per tael.

As global rates remain on an upwards trend, the selling price of both gold bars and gold rings in the domestic market have continued to soar. From November 18 to November 20, prices surged VND1.7 million ($66.6) per tael for gold bars and from VND2.5 million - VND2.8 million ($98 - $109) per tael for gold rings.

Prices in the global market increased to $2,633 an ounce on November 20, or over VND83 million per tael.

At this level, gold prices in Vietnam stand at around VND2.7 million ($105) a tael higher than the global price.