Domestic gold prices hit one-year high

Gold prices in the domestic market skyrocketed to a one-month high on March 6 while the global bullion dropped slightly.

The SJC-branded gold bars were sold at VND93 million ($3,631) per tael on the day, up VND300,000 ($11.7) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

In the global market, the gold prices declined slightly by 0.03% to $2,917.1 an ounce on the same day, or nearly VND91.1 million per tael.

At this level, gold price in Vietnam is higher than the global price around VND1.4 million ($54.6) a tael.