Gold prices in the domestic market keep soaring  as global rates remain on an upwards trajectory.

The Saigon Jewelry and Germ Stone Co. (SJC) and the State-owned commercial banks - Vietinbank - sold SJC-branded gold bars at VND98.2 million ($3,822) per tael on March 18, up by VND2.1 million ($81.7) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Meanwhile, the three State-owned commercial banks - Agribank, BIDV, and Vietcombank - offered gold bars at a lower price at VND96.9 million ($3,771) per tael, rising by VND800,000 ($31.1) per tael against the previous day.

The selling price of gold rings surged by between VND1.8 million ($70.7)- VND2.1 million ($81.7) per tael on March 18 compared to the previous day, hitting from VND98.1 million ($3,818) to VND99.1 million ($3,857) per tael, depending on each company.

Prices in the global market skyrocketed March 18 to $3,028 an ounce, or nearly VND94.83 million per tael.

At this level, gold prices in Vietnam stand at around VND3.27 million ($127.2) a tael higher than the global price.