Gold prices in Vietnam fell sharply on August 19, ending a three-session winning streak.he buying price for SJC-branded gold bars stood at VND139.7 million ($5,310) per tael and the selling price at VND142.7 million ($5,425), down VND1.6 million ($60.8) per tael on both sides from the previous session on August 18.
A tael is equivalent to 37.5 grams, or roughly 1.2 ounces.
The decline came after SJC gold bar prices had risen by a combined VND1 million per tael on both the buying and selling sides over three consecutive sessions from August 15 to 18. The latest prices returned to their lowest level in two weeks.
Prices of gold rings also fell across major gold traders, with buying and selling prices declining by VND500,000 to VND1.6 million per tael. Gold ring prices were quoted at around VND139.2 million per tael for buying and VND142.2 million per tael for selling.
Meanwhile, on the global market, gold prices rose 0.6% to around $4,360.3 per ounce. At this level, domestic prices remained higher than global levels, with a gap of about VND2.66 million ($101) per tael.
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