Gold prices in Vietnam surged to a one-month high on August 17, following a recovery in the previous trading session.

SJC-branded gold bars were priced at VND144.8 million ($5,505) per tael for selling and VND141.8 million ($5,391) per tael for buying, their highest levels since mid-July.

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

Both buying and selling prices increased by VND800,000 ($30.4) per tael from the previous session.

Gold ring prices also rose by VND800,000 per tael, reaching VND141.3 million per tael for buying and VND144.3 million for selling.

On the global market, gold prices rebounded by more than 0.4% to $4,394 per ounce.

At current exchange rates, domestic gold prices remain about VND3.52 million ($133) per tael higher than international prices.