Saigon Jewelry Company gold bar price gained 0.35% to VND142.2 million (US$5,413.43) per tael. It is up 0.49% for the week but on track to end the month 3.27% lower.
Gold ring price was also up 0.35% at VND141.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold fell on Friday but was on track for its first monthly gain in five months, supported by bargain buying around the $4,000 level, while investors weighed developments in the Middle East and their impact on U.S. rate outlook, Reuters reported.
Spot gold fell 0.6% to $4,076.53 per ounce, but was headed for a weekly rise of 0.6%. Prices were up about 1.7% this month. U.S. gold futures for August delivery lost 0.4% to $4,074.20.
The dollar gained about 0.3%, making dollar-denominated commodities more expensive for overseas buyers.
“Gold is showing a mild negative bias today amid profit-taking and a moderate bounce in the U.S. dollar, following the metal’s gains yesterday and the corresponding fall in the greenback,” said Tim Waterer, chief market analyst at KCM Trade.
However, “gold has had a better run of things this month. A key support has been the metal finding a cushion of sorts around the $4,000 level, which has attracted buyers on dips,” he added.