Sacombank Jewelry Company bought the metal at VND37.71 million and sold at VND37.81 million as of 8:10 am local time.
Saigon Jewelry Company, the biggest gold shop in Vietnam, purchased gold at VND37.7 million and sold at VND37.82 million at the same time.
Meanwhile, Hanoi-based Phu Quy Jewelry bought SJC-brand gold at VND37.49 million and sold at VND37.63 million as of 8:50 am local time.
At Bao Tin Minh Chau, the metal was bought at VND37.65 million and sold at VND37.85 million.
The precious metal jumped to VND38.55 million a tael on April 30 as global price surged to US$1,569.8 an ounce.
Internationally, gold dropped steeply as high prices prompted investors to sell gold heavily to lock in gains.
Gold futures for June delivery fell as much as $16.7 an ounce, or 1.1 percent, to close at $1,540.4 an ounce on the Comex in New York. This is the steepest loss since March 15.
The death of terrorist Osama Bin Laden on May 1 has eased concerns over politic unrest, causing investors to reduce holdings of high-risk assets. However, gold was backed by a weaker US dollar and rising inflation in the US.
In Asia, the metal continued to sink further. Gold for immediate delivery dived to $1,534.1 an ounce as of 9 am Vietnamese time.
The US Dollar Index, which tracks the greenback’s strength against a basket of six major currencies, recovered to 73.075 from 72.928. Last week, the gauge continuously declined.
Crude oil strongly retreated due to a sharp correction in silver futures prices and a stronger US dollar. Crude oil futures for June settlement lost as much as $2.47 a barrel, or 2.2 percent, to close at $111.05 a barrel on the New York Mercantile Exchange.
On the foreign exchange market, the interbank US dollar exchange rate gained by VND5 per dollar to VND20,703.
State-owned Vietcombank bought the greenback at VND20,600, and sold at VND20,750.
