Saigon Jewelry Company gold bar went up 0.74% to VND135.4 million (US$5,128.79) per tael.

Gold ring rose 0.77% to VND130.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Vietnam’s gold price has been among the best investment assets so far this year after starting January at VND84.2 million per tael.

Its gain far exceeds the 37% jump of global bullion price in the same period.

Globally gold’s powerful rally took on fresh legs on Friday, with prices just cents away from $3,600 per ounce, as weak U.S. jobs data further raised expectations for bullion-supportive Federal Reserve rate cuts, Reuters reported.

Spot gold was up 1.4% at $3,596.55 per ounce, having hit a record $3,599.89 earlier.

The metal is now on track for its strongest weekly gain in nearly four months.

U.S. gold futures for December delivery settled 1.3% higher at $3,653.30.

Bullion’s surge this year was driven by U.S. dollar weakness, central bank buying, a softening monetary policy backdrop and wider geopolitical and economic uncertainty.