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Saigon Jewelry Company gold bar price dropped 0.7% to VND140.5 million (US$5,335.09) per tael.
Gold ring price fell by roughly the same rate to VND140 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices were steady on Wednesday as investors awaited the U.S. Federal Reserve's policy decision and comments from Fed Chairman Kevin Warsh for clues on inflation and interest rate outlooks, Reuters reported.
Spot gold was little changed at $4,024.54 per ounce. U.S. gold futures for August delivery dipped 0.4% to $4,023.30.
"Gold is very much connected to today's FOMC meeting.... The scenario that may see a potential reversal of the recent bearish bias in gold prices will be the Fed turning to a less hawkish rhetoric," said Kelvin Wong, a senior market analyst at OANDA.
