Gold prices gain

Saigon Jewelry Company gold bar price surged 1.38% to a historic peak of VND162 million (US$6,167.78) per tael. Other sellers quoted the same rate.

Local bullion prices are around VND17 million per tael higher than global rates.

Gold ring price went up 1.4% to VND159 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices broke through the $4,600 per-ounce level on Monday for the first time, while silver also jumped to a record high, bolstered by geopolitical and economic uncertainties and growing bets of U.S. interest rate cuts, Reuters reported.

Spot gold jumped 1.3% to $4,469.49 per ounce after reaching a record high of $4,600.33 earlier in the day. U.S. gold futures for February delivery firmed 2% to $4,591.10.

"Basically, what is impacting (the metals) for sure is the geopolitical risk factor, which is the main driver for the intraday bullish momentum that's been seen in both the gold and silver markets today," said Kelvin Wong, a senior market analyst at OANDA.

The dollar retreated from its strongest level in a month, also supporting the rally in precious metals.

Non-yielding assets tend to do well in a low-interest-rate environment and during geopolitical or economic uncertainties.