Saigon Jewelry Company gold bar went up 0.27% to VND184.7 million (US$7,042.76) per tael.

Gold ring was steady at VND183.9 million per tael. Gold prices in Vietnam have risen 21% so far this year.

Globally gold rose on Thursday as the widening Middle East conflict drove investors ‌towards the safe-haven asset, while a softer dollar also lent support to bullion prices, Reuters reported.

Spot gold climbed 0.8% to $5,177.26 per ounce. U.S. gold futures for April delivery were up 1% at $5,186.40.

The U.S. dollar eased from a more than three-month high hit earlier this week, making greenback-priced gold less expensive for holders of other currencies.

“Gold benefits from the kind of geopolitical risks ⁠that we’ve seen flared up in the last few days. So (prices rose due to) a bit of a function of normalizing financial conditions and a U.S. dollar that’s pulling back from highs,” said Kyle Rodda, senior financial market analyst at Capital.com.

Bullion, traditionally viewed as ⁠a safe-haven asset, has risen about 20% so far this year, notching successive record highs amid heightened global political and economic uncertainty.