Gold prices reach new all-time highs

Saigon Jewelry Company gold bar price surged by 2.7% to a record VND106.4 million (US$4,138.47) per tael.

It previous peak was VND103.9 million per tael hit on Thursday. A tael equals 37.5 grams or 1.2 ounces.

Gold ring price rose 3% to VND106.4 million per tael, surpassing its past record of VND103.3 million.

Globally, gold breached the key $3,200/oz level for the first time to scale a new peak on Friday, fuelled by a weaker dollar and an escalating trade war that sent investors rushing toward safe-haven assets, Reuters reported.

Spot gold rose 1.3% at $3,216.48 an ounce. Bullion scaled an all-time peak of $3,219.73 earlier in the session, gaining over 5% for the week. U.S. gold futures climbed 1.9% to $3,236.00.

"The rapid weakening of the U.S. dollar seems to be the main driver of gold's rebound at the moment. That seems to reflect an ongoing exodus from USD-based assets, with stocks and bonds' selloff amid tariff policy uncertainty," said Ilya Spivak, head of global macro at Tastylive.

Apart from tariffs, central bank demand, expectations of interest rate cuts by the Federal Reserve, geopolitical instability in the Middle East and Europe, and increased flows into gold-backed exchange-traded funds also fueled the metal's rally this year.

"$3,500 is the next round number people will be looking at. I suspect we won't get there immediately or without bumps along the way," Capital.com's financial market analyst Kyle Rodda said.