The gap between the domestic and global gold prices has been narrowed down, hitting the lowest level on May 28 since early this month.

In the domestic market, the SJC-branded gold bars were offered at VND118.3 million ($4,532) per tael for selling, up VND300,000 ($11.49) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Meanwhile, in the global market, the gold price on May 28 slightly rose to $3,318.9 per ounce.

At this level, gold prices are around VND12.63 million ($484) a tael higher than the global price, the lowest level in May. 

Since mid-April this year, the difference between the domestic and global gold prices started to soar strongly and reached a pick in mid-May at VND19 million ($728) per tael. It then started to drop gradually from May 16.