Domestic gold prices on May 5 plunged to theier lowest level in the past four months.

Prices of SJC-branded gold bars dropped by between VND500,000 ($19) and VND1.6 million ($60.8) per tael compared to the previous day. Buying prices fell to VND162 million (about $6,159) per tael, while selling prices declined to VND165 million (around $6,273) per tael.

A tael is equivalent to 37.5 grams, or roughly 1.2 ounces.

In contrast, global gold prices rose slightly by nearly 0.4% to $4,541 per ounce. Despite the uptick in international markets, domestic prices remained significantly higher than global levels, with a gap of about VND19.18 million (roughly $729) per tael.