Gold prices in the domestic market fell significantly on November 25, in line with global trends.

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 VND86.6 million ($3,395) per tael on November 25.

One tael equals 37.5 grams, or 1.2 ounces.

The selling price was down VND400,000 ($15.7) compared to the previous day.

Meanwhile, prices of gold rings plummeted by between VND1 million and VND1.3 million ($39.2 and $50.9) per tael compared to the previous day, to VND85.3 million to VND85.8 million ($3,344 to $3,363) per tael.

In the global market, gold fell to $2,670 an ounce, down $50 compared to the trading session late last week and equal to VND84 million per tael.

At this level, gold prices in Vietnam are around VND2.6 million ($102) a tael higher than the global price.