Domestic gold price surged VND50,000 a tael (1.2 ounces) to VND21.25 million on August 4 with the global price climbing to a two-month high, as the US dollar sank to its lowest level this year.
Most jewelers bought gold at VND21.20 million ($1,190.08) and sold at VND21.25 million ($1,192.88).
On the SBJ trading floor, trading volume remained high with nearly 300,000 taels changing hands at VND20.52-20.66 million.
Internationally, gold rose to a two-month high as the dollar dropped, prompting investors to seek the metal as an alternative asset.
In New York, spot gold gained $2, 0.2 percent, to $957.5 an ounce, the highest level in the last two months.
Since bullion slightly rose while the dollar sharply fell, analysts said that the metal has currently faced many drawbacks.