The price of gold in the domestic market on November 28 reached its lowest level in three years, hovering at 35.2 million VND/tael (1 tael = 1.2 ounces).

The selling and buying prices of SJC gold during the day were more than 100,000 VND less than the levels of the November 27 trading session.

The same day, the State Bank of Vietnam held the 72nd gold bar auction session with 14,900 tael of gold being sold, bringing the total volume of gold sold during the auctions since March 28 to 1,755,400 tael (65.8 tonnes).

The move aims to stabilise the market despite the sharp decrease in recent days.

Meanwhile, the gold price in the Asian market bounced back after two consecutive days of decline thanks to China’s increasing demand.-VNA