Gold rings rose by 3.32% to VND189.8 million. Gold prices in Vietnam have increased by 25% since the year began.

On a global scale, spot gold continued its impressive surge on Thursday, nearing a record peak of almost $5,600 per ounce as investors sought refuge amid geopolitical and economic turbulence, while silver edged close to surpassing the $120 level, according to Reuters.

Spot gold soared 2.7% to $5,542.29 per ounce, following a record high of $5,591.61 earlier that day.

"Rising U.S. debt and uncertainties stemming from indications that the global trade framework is fracturing into regional blocs rather than being U.S.-centric (are prompting investors to flock to gold)," remarked Marex analyst Edward Meir.

Prices crossed the $5,000 threshold for the first time on Monday and have risen over 10% this week, propelled by various factors including strong demand for safe-haven assets, substantial central bank purchases, and a declining dollar.

"Gold is no longer merely a safeguard against crises or inflation; it is increasingly regarded as a stable and dependable store of value that also offers diversification across a broader spectrum of economic scenarios," OCBC analysts mentioned in a report.