Gold prices in the domestic market plunged for the third consecutive day on September 12.

SJC-branded gold bars were sold at VND132.4 million ($4,996) per tael, down VND900,000 ($33.9) from the previous day, while the buying price dropped by VND1.9 million ($71.6) to VND128.4 million ($4,845) per tael.

One tael equals 37.5 grams, or 1.2 ounces.

Over the past three days, selling prices have fallen by a total of VND3.4 million ($128) per tael, while buying prices have slumped by VND5.7 million ($215) per tael.

In contrast, global gold prices rebounded, rising more than 0.6% to $3,654.8 per ounce. Despite the decline, domestic prices remain around VND14.4 million ($543) per tael higher than international prices, though the gap has narrowed from the record VND19.4 million ($732) per tael difference set on September 6.