Domestic gold prices bounce back

Gold prices in the domestic market bounced back on December 23 after hitting a monthly record low last week.

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 VND84.3 million ($3,302) per tael on the day, up by VND500,000 ($19.5) per tael compared to the previous session on December 20.

One tael equals 37.5 grams, or 1.2 ounces.

Prices in the global market stood at $2,624 an ounce on the same day, or nearly VND80 million per tael. At this level, gold price in Vietnam is  higher than the global price around VND4.3 million ($168) a tael.