Most gold shops bought the metal at VND35.75 million and sold around VND35.85 million as of 10 am local time.
Sacombank Jewelery Company bought gold at VND35.78 million and sold at VND35.82 million.
Meanwhile, Hanoi-based Phu Quy Jewelry purchased SJC-brand gold at VND35.74 million and sold at VND35.84 million.
Gold was depressed by a weakening dollar exchange rate on free market, which fell by VND40 per dollar to buy at VND21,000 and sell at VND21,050 last evening, and a losing global price.
However, declining momentum of the US dollar on free market stalled this morning. Dollar were bought at VND21,000-21,020 and sold at VND21,030-21,050.
Domestically, gold fetched above VND700,000 a tael higher than global prices.
Internationally, gold dropped the second day on speculation that the US dollar would extend rally, curbing the demand for the metal as a store of value.
Gold for immediate delivery sank as much as $16.4 an ounce, or 1.2 percent, to close at $1,380.4 an ounce on the Comex in New York.
In Asia, gold was almost unchanged this morning. Spot gold slightly inched up $0.8 an ounce to trade at $1,381.2 an ounce as of 10:05 am Vietnamese time.
Concerns over the European sovereign-debt crisis caused the shared currency to continue devaluing 1.2 percent against the US dollar to stand at $1.32 a euro.
The credit rating agency Moody’s Investors Service announced yesterday it would possibly downgrade debt rating of Spain. Besides, investors were wary ahead of the summit meeting on the debt crisis of the European Union, which opens on December 16. Meanwhile, the greenback was supported by optimistic data which showed that the US industrial production climbed more than forecast in November.
Holdings at SPDR Gold Trust, the largest exchange-traded fund back by bullion, fell by 0.6 metric tons to 1,286.2 metric tons yesterday.
Crude oil futures for January delivery recovered $0.34 a barrel to close at $88.62 a barrel on the New York Mercantile Exchange.
This morning, crude oil slightly dipped to trade around $88.5 a barrel.
