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Saigon Jewelry Company gold bar price fell 4.22% to VND181.6 million (US$7,010.36) per tael of 37.5 grams or 1.2 ounces. Other sellers similarly lowered their rates.
Local bullion rates are still up nearly 3% for the week and 18.8% this month. Gold ring price dropped 4.59% to VND180.6 million per tael.
Globally, gold slid more than 4% on Friday on rumors the Federal Reserve could get a more hawkish chair, but was still on track for its strongest monthly gain since 1980 as investors flocked to the safe haven amid lingering geopolitical and economic strains, Reuters reported.
Spot gold lost 3.9% to $5,183.21 per ounce after falling as much as 5% earlier. It scaled a record high of $5,594.82 on Thursday. U.S. gold futures for February delivery fell 2.7% to $5,176.40 per ounce on Friday.
Prices have risen more than 20% so far in January, heading for a sixth straight monthly gain and the largest monthly advance since January 1980.
The dollar recovered from multi-year lows, supported in part by the Fed's decision on Wednesday to leave interest rates unchanged, but was poised for a second straight weekly decline.
A stronger dollar make greenback-priced gold more expensive for overseas buyers.
