Gold price this afternoon February 8, 2025: Gold price remains at a very high level, buyers risk losses
Gold price this afternoon, February 8, 2025: Domestic gold price after God of Wealth day remains at a very high level. The difference between buying and selling is at a high level, causing buyers to risk losses. World gold price decreased in the context of the USD increasing.
Domestic gold price this afternoon February 8, 2025
As of 1:00 p.m. today, February 8, 2025, domestic gold shops after God of Wealth Day maintained a very high level, the price of gold bars and smooth round gold rings were both above 90 million VND/tael for buying.
At Saigon Jewelry Company (SJC), the price of gold bars was listed at VND86.8 million/tael (buy) and VND90.3 million/tael (sell). There was no change in both buying and selling prices compared to the end of yesterday's trading session.
DOJI system listed SJC gold at buying price of 86.8 million VND/tael and selling price of 90.3 million VND/tael. This price remained unchanged in both buying and selling directions compared to yesterday.
At Mi Hong Jewelry Company, the buying price of SJC gold is 87 million VND/tael and the selling price is 88.2 million VND/tael. Thus, compared to yesterday's session, the buying price remained unchanged and the selling price decreased by 200 thousand VND/tael.
Bao Tin Minh Chau Company Limited listed the price of SJC gold at VND86.8 million/tael (buy) and VND90.3 million/tael (sell). This price remained unchanged in both buying and selling directions compared to yesterday.
| Today (February 8, 2025) | Yesterday (February 7, 2025) | |||
| Purchase price | Selling price | Purchase price | Selling price | |
| SJC | 86,800 | 90,300 | 86,800 | 90,300 |
| DOJI HN | 86,800 | 90,300 | 86,800 | 90,300 |
| DOJI SG | 86,800 | 90,300 | 86,800 | 90,300 |
| BTMC SJC | 86,800 | 90,300 | 86,800 | 90,300 |
| Phu Quy SJC | 86,800 | 90,300 | 86,800 | 90,300 |
| PNJ HCMC | 86,700 | 90,100 | 86,700 | 90,100 |
| PNJ Hanoi | 86,700 | 90,100 | 86,700 | 90,100 |
| 1.DOJI- Updated: 2/8/2025 1:00 PM - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| AVPL/SJC HN | 86,800 | 90,300 |
| AVPL/SJC HCM | 86,800 | 90,300 |
| AVPL/SJC DN | 86,800 | 90,300 |
| Raw material 9999 - HN | 86,600 | 89,400 |
| Raw material 999 - HN | 86,500 | 89,300 |
| AVPL/SJC Can Tho | 86,800 | 90,300 |
| 2.PNJ- Updated: 2/8/2025 1:00 PM - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 86,700 | 90,100 |
| HCMC - SJC | 86,800 | 90,300 |
| Hanoi - PNJ | 86,700 | 90,100 |
| Hanoi - SJC | 86,800 | 90,300 |
| Da Nang - PNJ | 86,700 | 90,100 |
| Da Nang - SJC | 86,800 | 90,300 |
| Western Region - PNJ | 86,700 | 90,100 |
| Western Region - SJC | 86,800 | 90,300 |
| Jewelry gold price - PNJ | 86,700 | 90,100 |
| Jewelry gold price - SJC | 86,800 | 90,300 |
| Jewelry gold price - Southeast | PNJ | 86,700 |
| Jewelry gold price - SJC | 86,800 | 90,300 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 86,700 |
| Jewelry gold price - Jewelry gold 999.9 | 86,700 | 89,200 |
| Jewelry gold price - Jewelry gold 999 | 86,610 | 89,110 |
| Jewelry gold price - Jewelry gold 99 | 85,910 | 88,410 |
| Jewelry gold price - 916 gold (22K) | 79,310 | 81,810 |
| Jewelry gold price - 750 gold (18K) | 64,550 | 67,050 |
| Jewelry gold price - 680 gold (16.3K) | 58,310 | 60,810 |
| Jewelry gold price - 650 gold (15.6K) | 55,630 | 58,130 |
| Jewelry gold price - 610 gold (14.6K) | 52,060 | 54,560 |
| Jewelry gold price - 585 gold (14K) | 49,830 | 52,330 |
| Jewelry gold price - 416 gold (10K) | 34,760 | 37,260 |
| Jewelry gold price - 375 gold (9K) | 31,100 | 33,600 |
| Jewelry gold price - 333 gold (8K) | 27,090 | 29,590 |
| 3. SJC - Updated: 2/8/2025 1:00 PM - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L, 1KG | 86,800 | 90,300 |
| SJC 5c | 86,800 | 90,320 |
| SJC 2c, 1c, 5c | 86,800 | 90,330 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 86,800 | 89,800 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 86,800 | 89,900 |
| Jewelry 99.99% | 86,700 | 89,400 |
| Jewelry 99% | 85,514 | 88,514 |
| Jewelry 68% | 57,948 | 60,948 |
| Jewelry 41.7% | 34,433 | 37,433 |
The current buying price of SJC 9999 gold rings is 86.8 million VND/tael and the selling price is 89.8 million VND/tael. There is no change in both buying and selling prices compared to the end of yesterday's trading session.
For Hung Thinh Vuong 9999 gold ring (DOJI), the buying price dropped sharply to 86.6 million VND/tael and the selling price dropped sharply to 90.3 million VND/tael, unchanged in both buying and selling directions compared to yesterday.
PNJ plain gold rings were bought at 86.7 million VND/tael and sold at 90.1 million VND/tael, unchanged in both buying and selling directions compared to yesterday.
For each successfully traded SJC gold bar, the gold business will "pocket" 3.5 million VND in price difference, much higher than the average difference of about 1 million VND/tael in previous days.
The large difference between buying and selling prices is creating a huge risk of loss for gold buyers. When the difference is pushed up, the gold price not only needs to increase but must increase sharply to help gold buyers escape losses.
This morning (February 8, January 11), there were still quite a few people buying gold for luck. According to the reporter's observation, about half of the customers were gold holders selling to "take profit". The rest were buying gold in small quantities of 2-5 taels for luck on God of Wealth Day.
World gold price this afternoon February 8, 2025
During this morning's session, there was a time when the world gold price set a new historical peak of 2,884 USD/ounce before cooling down again.
As of 1:00 p.m. on February 8 (Vietnam time), the world gold price continued to decrease slightly by 2.84 USD compared to the previous session's close, down to 2,860 USD/ounce.
If calculated from the beginning of 2025 until now, the precious metal has increased by about 260 USD/ounce, despite a shining year 2024 with the highest growth rate in the past decade.
Global gold demand is set to hit a record 4,974 tonnes in 2024, marking the third consecutive year central banks have bought more than 1,000 tonnes, according to the latest report from the World Gold Council (WGC).
The biggest buyers of gold include China, Poland and Türkiye, as they seek to diversify their reserves away from the US dollar due to concerns about economic and geopolitical risks.
Adrian Day sees this as a key factor driving gold’s strength. “The biggest driver of gold prices over the past two years has been central banks. They are reducing the share of the US dollar in their foreign exchange reserves. This trend is not slowing down, it is accelerating,” he said.
Veteran fund manager Adrian Day, CEO of Adrian Day Asset Management, believes this is just the beginning. “I wouldn’t be surprised to see gold prices hit $3,500 to $4,000 an ounce in the next 12 months,” he told Kitco News.
Although it has cooled down a bit after reaching a historic peak of $2,882/ounce on February 5, gold prices are still forecast to rise and soon surpass $2,900/ounce before reaching $3,000 this year.
