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Saigon Jewelry Company gold bar price hit VND119.5 million (US$4,597.03) per tael, down 1.24% from the morning and 3.63% from Tuesday's peak of VND124 million.
Gold ring price lost another 0.86% to VND115.5 million per tael. It had dropped 2.1% in the morning. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices dipped on Wednesday after U.S. President Donald Trump hinted at lower tariffs for China and said he has no plans to fire Federal Reserve Chair Jerome Powell, Reuters reported.
Spot gold fell 2.1% to $3,310.29 an ounce, after hitting a record high of $3,500.05 in the previous session. U.S. gold futures fell 2.9% to $3,321.30.
"The comments of President Trump, including his softer stance towards the Fed chairman as well his comments on China, eased some market concerns and weighed on the yellow metal," said UBS analyst Giovanni Staunovo.
"We continue to expect gold to rise to $3,500/oz over the coming months," Staunovo said.
Gold, traditionally considered a hedge against global instability, has shattered multiple record highs and gained more than 26% since the start of 2025.
