Saigon Jewelry Company gold bar went up 0.99% to VND143.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold ring was unchanged at VND144.2 million per tael. Gold prices in Vietnam have fallen 6.3% so far this year.

Globally gold advanced for a fourth session on Thursday ‌and touched its highest level in seven weeks, helped by a softer dollar and lower Treasury yields, on growing hopes over the Strait of Hormuz reopening, Reuters reported.

Spot gold was up 0.5% at $4,265.22 per ounce after hitting its highest level since June 18 earlier. On Wednesday, bullion posted its biggest daily gain since February.

"The sharp ⁠rally came on building optimism that a diplomatic breakthrough in the Middle East is close to being finalised. This in turn would keep downside pressure on oil prices and reduce the need for central banks to raise rates, providing a clear tailwind for gold," IG market analyst Tony Sycamore said.

A sustained break above the 200-day moving average could pave the way for a stronger recovery toward the $5,000 mark, he added.