Domestic gold prices fell sharply on November 18, tracking the downward trend in the global market.
SJC-branded gold bar prices at major local gold companies dropped by VND1.7 million ($64.6) per tael for both buying and selling, settling at VND147.3–149.3 million ($5,600–5,676) per tael.
One tael equals 37.5 grams, or 1.2 ounces.
Gold ring prices also declined significantly. Most retailers cut prices by VND1.2 million ($45.6) per tael for both buying and selling, bringing them down to VND145.3–147.8 million ($5,524–5,619) per tael.
On the global market, gold prices plunged for the fourth consecutive day, dropping 0.8% to US$4,015.1 per ounce. Despite the fall, domestic gold prices remained about VND20.25 million ($769) per tael higher than international prices.
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