Gold prices in Vietnam dropped sharply on the first transaction day of the week, following the global downward trend.
Prices of SJC-branded gold bars declined VND1.6 million ($60.8) per tael on May 11 from the previous day to VND165.9 million ($6,307) for selling and VND162.9 million ($6,193) for buying.
A tael is equivalent to 37.5 grams, or roughly 1.2 ounces.
On the global market, gold prices slipped nearly 0.6% to $4,687.5 per ounce. Despite the decline, domestic prices remained significantly higher than international levels, with a gap of about VND15.33 million (approximately $582) per tael.
