Gold prices in the domestic market continued to plummet on November 26, in line with the global downturn.

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 VND85.3 million ($3,343) per tael on November 25.

One tael equals 37.5 grams, or 1.2 ounces.

The price was down VND1.3 million ($51) compared to November 25.

Meanwhile, prices of gold rings fell between VND2.5 million and VND3 million ($98 and $117) per tael compared to the previous day, to VND84.4 million to VND84.6 million ($3,308 to $3,316) per tael.

In the global market, gold fell to $2,616 an ounce, down $101 compared to the previous day and equal to VND82.65 million per tael.

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