Gold values are rising steadily.

The price of gold rings also surged to VND182.7 million per tael, having risen by 2.43% earlier.

On a global scale, spot gold advanced 1.8% to $5,279.94 per ounce on Wednesday, following a record peak of $5,285.35 earlier. It has encountered over a 20% increase since the beginning of the year. U.S. gold futures for February delivery soared 3.8% to $5,274.80 per ounce, according to Reuters.

This unprecedented surge has been fueled by central banks purchasing gold to decrease dependence on the U.S. dollar and robust demand from investors seeking a secure asset in light of the challenging first year of U.S. President Donald Trump's second term.

Analysts from Societe Generale indicated on Monday their expectation for gold to hit $6,000/oz by the end of the year, calling this prediction conservative, as prices may very well rise further.

The price of gold rings also surged to VND182.7 million per tael, having risen by 2.43% earlier.

Analysts from Societe Generale indicated on Monday their expectation for gold to hit $6,000/oz by the end of the year, calling this prediction conservative, as prices may very well rise further.