Saigon Jewelry Company gold bar dropped 0.48% to VND145.8 million (US$5,606.21) per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold ring declined 0.2% VND146.7 million per tael. Gold prices in Vietnam have fallen 4.6% so far this year.

Globally gold rose on Thursday as investors digested the U.S. Federal Reserve's interest rate hike and its signal that further ‌policy tightening could follow, while an earlier rally in oil prices faded, Reuters reported.

Spot gold was up 1.2% at $4,314.64 per ounce, after hitting a near six-week low on Wednesday. U.S. gold futures for December delivery were down 0.8% to $4,353.90.

A person holds gold bars in Hanoi. Photo by VnExpress/Giang Huy

"Oil prices remain a key factor to watch. If oil prices continue to decline, that could support gold prices moving higher, at least from a medium-term perspective. Until that materializes, I expect gold to remain rangebound," said Kelvin Wong, senior market analyst at OANDA.

The current uptick in gold is driven mainly by technical factors, with the Fed's hawkish message already largely priced into the market, he said.