Gold price today February 8, 2025: World gold price and domestic gold price increased for the 6th consecutive week

Domestic gold price today February 8, 2025

At the time of survey at 4:30 a.m. on February 8, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 86.8 million VND/tael for buying and 90.3 million VND/tael for selling. An increase of 600 thousand VND/tael for buying - an increase of 700 thousand VND/tael for selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 87-88.4 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 400 thousand VND/tael for buying and decreased by 200 thousand VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 86.8-90.3 million VND/tael (buying - selling, up 400 thousand VND/tael in buying direction - up 700 thousand VND/tael in selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 86.8-90.3 million VND/tael (buy - sell), an increase of 300 thousand VND/tael in buying - an increase of 500 thousand VND/tael in selling compared to yesterday.

The latest gold price list today, February 8, 2025 is as follows:

The difference between buying and selling prices of 9999 Hung Thinh Vuong round gold rings at DOJI is 3.7 million VND/tael. The huge difference between buying and selling prices is creating huge risks for gold investors. When the difference is pushed up, the gold price not only needs to increase but must increase sharply to help investors escape losses.

In the context of gold prices being adjusted down, buying at a time when the difference is high causes investors to lose heavily. Just a slight market correction can cause investors to lose a significant amount.

World gold price today February 8, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,873.41 USD/ounce. Today's gold price increased by 9.18 USD compared to yesterday. Converted according to the USD exchange rate, on the free market (25,680 VND/USD), the world gold price is about 89.91 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 390 thousand VND/tael higher than the international gold price.

Gold prices have returned to an upward trend and are now up for the sixth consecutive week, thanks to the demand for safe assets amid concerns about trade wars. Meanwhile, the market is waiting for the US non-farm payrolls report to predict the direction of interest rates from the Federal Reserve (Fed).

The US administration’s new tariff policy is raising concerns about the outlook for global economic growth, increasing the appeal of gold as a safe haven investment, according to Ricardo Evangelista, senior analyst at ActivTrades. This week, US President Donald Trump officially imposed tariffs on China, while suspending tariffs on Mexico and Canada for a month.

Markets are now focused on the US non-farm payrolls report, due later in the day. A Reuters poll forecasts that US job creation in January could fall to 170,000 from 256,000 in December. "I expect the data to show a slowdown in the US labor market... which will reinforce expectations that the Fed will keep interest rates low, which will support gold," Evangelista said.

A strong economy with high employment and falling inflation will give the Fed room to cut interest rates, Chicago Fed President Austan Goolsbee said. But tariff uncertainties have investors wary.

In physical gold markets, demand in India and China has fallen as gold prices hit record highs. The Perth Mint’s gold sales in January hit a 10-month low, while silver sales fell 61% from the previous month.

Among other precious metals, spot silver rose 0.1% to $32.23 an ounce, while platinum rose 0.2% to $987.10 an ounce. Palladium fell 1.04% to $968.44 an ounce. Silver and platinum both rose for the week, while palladium fell 3.9%.

Gold Price Forecast

Analysts say that despite the negative fluctuations in the short term, gold continues to conquer new peaks. Investors are choosing gold as a safe haven asset amid concerns that the trade war between the US and China could negatively impact US economic growth.

In 2025, gold prices are forecast to continue to rise. The $2,900/ounce mark is no longer a strong barrier. Interest rates are forecast to continue their downward trend, while inflation increases and economic tensions between the US and other countries escalate.

Goldman Sachs Bank believes that gold prices are likely to continue to reach $3,000/ounce due to the instability of US policies and the need for risk prevention from investors.

Jim Wyckoff, an analyst at Kitco Metals, predicted that the instability caused by the Trump administration, along with central banks increasing their gold purchases to reduce their USD holdings, could push the price of the precious metal to $3,000/ounce this year.

In a forecast sent to the London Bullion Market Association (LBMA), Bernard Dahdah - precious metals analyst at Natixis - said that central bank demand and renewed investor interest will continue to push gold prices higher in 2025.

Looking further into the supply-demand dynamics of the gold market, Dahdah is quite optimistic about the precious metal, predicting that prices will exceed $3,200/ounce and average around $2,725/ounce this year.