Gold prices fell to their lowest level in the last five years in Vietnam on June 25.

The price of one tael or 1.205 ounces of the state-owned SJC gold was 34.44 million VND (1,579 USD).

The gold price has been falling in the local market since early this month. In the last three days, the price of a tael of gold dropped 250,000 VND (11.4 USD).

Meanwhile, on the global gold trading floor, the price of gold was 1,177.6 USD per ounce or 1,419.2 USD per tael. said gold edged up on June 25 after falling in the past four sessions to a two-week low, with investors awaiting news on Greece's talks with its international lenders to avert a default for further trading cues.

Thus, the price of a tael of gold in Vietnam was 159.8 USD higher than in the world market on the same day.

Bao Tin Minh Chau Jewellery and Gemstone Co. Ltd said they sold more gold in the past few days, with the selling/buying rate of 60/40, respectively.

The company also encouraged buyers to purchase more gold as the price was very low.

Meanwhile, dollar rates remained stable in most commercial banks and in the flea market. The greenback's buying rate was between 21,760 VND and 21,780 VND, and the selling rate was between 21,830 VND and 21,850 VND.

On its website, the central bank kept the inter-bank exchange rate at 21,673 VND per US dollar.

With an effective 1 per cent margin, the ceiling rate was 21,890 VND per dollar.-VNA