Gold prices in the domestic market reversed to plummet on December 13 in line with the global downturn after bouncing back in three consecutive days. 

SJC-branded gold bars were sold by the Saigon Jewelry and Gem Stone Co. (SJC) and the four State-owned commercial banks - Agribank, BIDV, Vietcombank and Vietinbank - for VND86.4 million ($3,391) per tael on December 13.

One tael equals 37.5 grams, or 1.2 ounces.

The selling price dropped VND700,000 ($27.4) compared to the previous day.

In the global market, gold prices plunged to $2,686 an ounce, down $25 compared to the previous day and equal to VND82.5 million per tael.

At this level, gold prices in Vietnam stand at around VND4.3 million ($168) a tael higher than the global price.