Gold prices in Vietnam fell sharply on March 3, dropping by VND1.5 million (US$57.2) per tael for both buying and selling after reaching a record high of nearly VND191 million ($7,290) per tael a day earlier.
One tael equals 37.5 grams, or 1.2 ounces.
Prices of SJC-branded gold bars were listed at VND186.4 million ($7,114) per tael for buying and VND189.4 million ($7,229) per tael for selling.
Gold ring prices followed a similar downward trend, declining by between VND300,000 ($11.45) and VND1.5 million ($57.2) per tael, depending on the retailer.
Meanwhile, global gold prices continued to edge higher, rising 0.9% from the previous session to $5,370.4 per ounce. At this level, domestic gold prices remain about VND17.39 million ($663) per tael higher than international prices.
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