Domestic gold prices rebound after sharp decline

Gold prices in Vietnam rebounded on March 5 after falling sharply for the two previous trading sessions in a row.

SJC-branded gold bars increased slightly by VND500,000 ($19) per tael, or 0.27%, compared to the previous day, with buying prices rising to VND181.2 million ($6,916) per tael and selling prices to VND184.2 million ($7,030).

One tael is equivalent to 37.5 grams, or about 1.2 ounces.

Gold ring prices also moved higher, surging by VND500,000 to VND181.4 million ($6,923) per tael for buying and VND184.4 million ($7,038) for selling.

On the global market, gold prices continued the upward trend, climbing more than 0.8% to $5,179 per ounce. At this level, domestic gold prices remained approximately VND18.77 million ($716) per tael higher than international levels.