Gold price on the afternoon of April 8, 2025: Domestic and world gold prices increased sharply due to trade war

Domestic gold price on April 8, 2025

At the time of survey at 4:30 p.m. on April 8, 2025, domestic gold prices increased again following world gold prices. Specifically:

DOJI Group listed the price of SJC gold bars at 97.7-100.2 million VND/tael (buy - sell), an increase of 600 thousand VND/tael for buying - an increase of 100 thousand VND/tael for selling compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 97.7-100.2 million VND/tael (buy - sell), an increase of 600 thousand VND/tael in buying - an increase of 100 thousand VND/tael in selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 99.4-100.4 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 700 thousand VND/tael for buying and decreased by 300 thousand VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 97.8-100.2 million VND/tael (buying - selling, gold price increased 500 thousand VND/tael in buying direction - increased 100 thousand VND/tael in selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 97.7-100.2 million VND/tael (buy - sell), gold price increased 400 thousand VND/tael in buying direction - increased 100 thousand VND/tael in selling direction compared to yesterday.

As of 3:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 97.7-100.2 million VND/tael (buy - sell); an increase of 1 million VND/tael in the buying direction - an increase of 100 thousand VND/tael in the selling direction compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 98-100.3 million VND/tael (buy - sell); increased 400 thousand VND/tael in buying - unchanged in selling.

The latest gold price table on the afternoon of April 8, 2025 is as follows:

World gold price on the afternoon of April 8, 2025 and chart of world gold price fluctuations in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 p.m. today, Vietnam time, was 3,007.49 USD/ounce. Today's gold price decreased by 29 USD/ounce compared to yesterday. Converted according to the USD exchange rate on the free market (25,910 VND/USD), the world gold price is about 94.98 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 5.12 million VND/tael higher than the international gold price.

World gold prices rose slightly thanks to support from global trade tensions between the US and major trading partners, along with a weaker USD. Meanwhile, US gold futures also rose 1.6% to $3,020.7.

Global trade tensions show no signs of abating. China has said it will not bow to what it calls “coercion” from the United States. The European Commission (EC) has also proposed a deal to reduce tariffs, while imposing a 25% tariff on some US imports.

“If tariffs continue to destabilize markets, coupled with expectations of a rate cut by the US Federal Reserve, this could send gold prices soaring again,” Vawda added.

"Gold prices are recovering thanks to a weaker US dollar and lingering concerns around the trade war's developments," said Zain Vawda, an analyst at MarketPulse (OANDA).

Gold prices have risen nearly 15% year-to-date due to geopolitical and economic uncertainties, strong buying demand from central banks, and inflows into gold-backed exchange-traded funds (ETFs).

Markets are awaiting the Fed’s latest policy meeting report, due on Wednesday. Investors expect the Fed to cut interest rates a total of 97 basis points this year, with a 40% chance of the first cut coming in May. Gold prices tend to rise in a low-interest-rate environment.

Ricardo Evangelista, senior analyst at ActivTrades, said: "The $3,000 level is an important psychological level and also a strong support at the moment. If the resistance level of $3,050 is broken, gold prices could continue to rise to $3,100."

Besides gold, spot silver price also increased by 0.4% to 30.24 USD/ounce, platinum price increased by 1.1% to 923.10 USD, while palladium price increased slightly by 0.1% to 919.78 USD.

Gold Price Forecast

While gold has crossed several important milestones, there is one that has yet to be reached in real terms. Gold hit $850 an ounce in January 1980, or about $3,486 in current terms. Some analysts believe that gold has not yet peaked in real terms, but that could change soon.

Many forecasts now suggest that the peak of this bull cycle could come in 2026 rather than this year. For example, Bank of America strategist Michael Widmer raised his gold price forecast to $3,063 in 2025 and $3,350 in 2026, and he does not rule out the possibility that prices could hit $3,500 in the next two years.

In an interview with Kitco News, Chris Vecchio, chief strategist at Tastylive.com, said that the recent tariffs are making many countries question the stability of their trade relations with the United States, which he said could have a lasting impact on global investor sentiment.

David Miller, Portfolio Manager of GOLY and Chief Investment Officer at Catalyst Fund, believes that gold prices still have a positive outlook. He believes that gold is not only an alternative asset to the USD, but also a tool to help allocate investment portfolios effectively in times of volatility.

Goldman Sachs believes that the recent gold sell-off is largely due to technical factors. Investors cutting losses due to the stock market decline, along with a shift to other assets, are the main reasons for the correction in gold prices. However, in the medium term, Goldman Sachs still believes that gold is supported by solid factors.

Adrian Day, chairman of Adrian Day Asset Management, agrees. He predicts that gold prices may fall in the short term, but the decline will not be deep. According to him, the factors that have pushed gold prices up over the past two years are not only still present but have become stronger, and will continue to support the long-term upward trend.

Kevin Grady, president of Phoenix Futures and Options, believes that the financial markets in general are still likely to go down in the short term. Therefore, gold prices may not recover immediately. However, he believes that as the market stabilizes, gold will gradually separate from the stock market's downward trend and regain its upward momentum.

Experts at CPM Group advise investors to maintain their current positions and wait patiently for buying opportunities when gold prices fall further. According to them, the recent volatility is largely due to concerns surrounding the negative impact of President Trump's new tax policy.