As world gold prices approached US$1,200 per ounce this morning (November 26), domestic gold prices hit VND29 million per tael again. At 9.45am, gold bars of various companies were being bought at VND28.8 million per tael and sold for VND29.1 million per tael. These prices represented an average increase of VND300,000-400,000 per tael from yesterday afternoon. At that hour, at a Bao Tin Minh Chau shop, almost 90 percent of its clients came to sell gold. However, one hour later, the price of VND29 million per tael dropped due to an effort to reduce the price of the US dollar on the free market by the State Bank of Vietnam. By 2.45pm, the price of gold sold at jewelry shops and gold companies had decreased by about VND350,000 per tael on average with many shops offering gold at VND28.6 million per tael (buying) and VND28.75 million (selling). There were quite wide fluctuations in gold prices offered by different jewelry companies between yesterday afternoon and this morning.

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