Gold prices in the domestic market climbed to an one-month high on December 11 as global bullion continued its rally.

The four State-owned commercial banks - Agribank, BIDV, VietinBank, and Vietcombank – and the Saigon Jewelry and Germ Stone Co. (SJC) sold SJC-branded gold bars at VND87.1 million ($3,420) per tael on the day, up by VND1.5 million ($58.9) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Prices in the global market skyrocketed to $2,700 an ounce on the same day, or nearly VND82.7 million per tael.

At this level, gold price in Vietnam is  higher than the global price around VND4.4 million ($172) a tael.