As of 13:30 (local time), spot gold rose US$66 an ounce to a fresh record of US$4,885.11, up nearly US$400 over the past week, according to market data.

Domestic prices climbed in tandem. Saigon Jewelry Company (SJC) quoted gold bars at VND168–170 million per tael, up VND3.9 million from the previous session, while gold rings rose as much as VND4.1 million dong at VND167 – 170 million per tael.

Major retailers including DOJI, PNJ and Bao Tin Minh Chau also raised prices, with buy-sell spreads ranging from VND2 - 3 million per tael.

Phu Nhuan Jewelry (PNJ) sold its 24K gold rings at up to VND169 million per tael , while the highest ring price in the market was recorded at Bao Tin Manh Hai, reaching VND170.7 million - matching the price of SJC gold bars.

Several retailers are now trading plain gold rings at the same level as SJC bullion, as limited supply of gold bars and rising demand for gold rings push prices higher.

Market analysts said the uptrend remains intact globally. Darin Newsom, senior market analyst at Barchart.com said the primary trend in precious metals is still higher. Meanwhile, Adrian Day, president of Adrian Day Asset Management, cited global debt levels and uncertainty as continued support for gold prices.

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