Domestic gold prices drop following global trend

Gold prices in the domestic market dropped 0.92% on May 15 following the global trend.

The SJC-branded gold bars were offered at VND116.6 million ($4,467) for buying and VND118.9 million ($4,555) for selling, down VND1.4 million ($53.6) and VND1.1 million ($42.1) compared to the previous day, respectively.

One tael equals 37.5 grams, or 1.2 ounces.

Meanwhile, in the global market, the gold price plummeted by nearly 1% on May 15 to $3,155.1 per ounce.

At this level, gold prices in Vietnam stand at around VND18.6 million ($712) a tael higher than the global price.