Gold prices continue to climb

Saigon Jewelry Company gold bar price gained another 1% from the morning to VND183.2 million (US$7,027.90) per tael of 37.5 grams or 1.2 ounces.

Gold ring price similarly jumped to VND182.7 million per tael. It earlier went up by 2.43%.

Globally, spot gold climbed 1.8% to $5,279.94 per ounce on Wednesday after scaling a record high of $5,285.35 earlier. It has gained more than 20% since the start of the year. U.S. gold futures for February delivery ‌surged 3.8% to $5,274.80 per ounce, Reuters reported.

The record-breaking run has been propelled by central bank buying to reduce reliance on the U.S. dollar and strong demand across the board from buyers looking for a safe-haven asset after the tumultuous first year of U.S. President Donald Trump's second presidency.

Analysts at Societe Generale said on Monday they expect to see gold reach $6,000/oz by year-end, a forecast they said was conservative because prices could well go higher.