The prices plunging by around VND23.4 million ($889) per tael in total over the last three trading sessions.

Gold prices in Vietnam fell sharply after reaching an
all-time high last week.

On February 2, the first trading session of the week, SJC-branded
gold bars dropped by VND3.4 million ($129) per tael for both buying and selling
compared to the previous trading session.

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

The decline came after a cumulative drop of up to VND20
million ($760) per tael over the previous two sessions, following a record high
of VND190.3 million ($7,235) per tael reached on January 29.

The buying price of SJC gold stood at VND165.6 million
($6,296) per tael, while the selling price was VND168.6 million per tael.

Gold ring prices also moved lower, falling by between VND2
million and VND3.5 million per tael, depending on the retailer.

On the global market, gold prices plunged nearly 3.7% to
around $4,705.8 per ounce. Despite the decline, domestic gold prices remained
approximately VND18.84 million ($716) per tael higher than international
levels.

VnEconomy-Mai Nhi