Gold price today March 8: Domestic gold slightly decreased, people buy gold as gifts on March 8

Domestic gold prices increase sharply

As of 4:00 p.m. today, domestic gold prices have slightly decreased, leaving the new peak of 93.1 set early this morning. Specifically, SJC gold bars and 9999 plain gold rings have both decreased by 200,000 VND compared to yesterday's closing price.

At SJC Company, the price of gold bars is currently listed at 90.9 - 92.9 million VND/tael (buy - sell), down 200 thousand VND/tael in both buying and selling directions compared to the previous session. DOJI Group also recorded a price of 90.9 - 92.9 million VND/tael, down 200 thousand VND/tael compared to the closing price yesterday.

At Bao Tin Minh Chau, the price of SJC gold bars is listed at 90.9 - 92.9 million VND/tael, a decrease of 200,000 VND/tael in both buying and selling directions compared to the closing price yesterday.

The price of 9999 round gold rings also decreased today. At DOJI, Hung Thinh Vuong gold rings were listed at 91.6 - 93.2 million VND/tael, a decrease of 200 thousand VND/tael in both buying and selling prices compared to yesterday's closing price.

Bao Tin Minh Chau listed the price of gold rings at 91.7-93.3 million VND/tael (buy - sell); down 300 thousand VND/tael for buying and down 200 thousand VND/tael for selling.

The difference between buying and selling prices at DOJI increased to 1.6 million VND/tael, while at Bao Tin Minh Chau it was 1.5 million VND/tael.

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

Gold prices are high, but many people still choose to buy gold as gifts on International Women's Day, March 8. At famous gold shops in Ho Chi Minh City such as Mi Hong, Kim Dung, or PNJ, the number of customers coming to buy gold is quite large.

Many men come here to choose gold jewelry as gifts for women on March 8. Women also buy gold as gifts for themselves or their mothers.

An employee at a gold shop in District 5 said that because March 8 this year falls on a weekend, customers have more time to choose the jewelry they like. The shops also launched many new designs to meet customer demand.

World gold price today 3/8/2025

On the international market, as of 4:00 p.m., the world gold price was listed at 2,911.41 USD/ounce, down 10.8 USD/ounce compared to the beginning of the previous trading session.

World gold prices are at a high level due to the depreciation of the USD. As of today, the US Dollar Index, which measures the fluctuations of the USD against 6 major currencies, has decreased by 0.21% to 103.810 points.

The change in market sentiment could be due to a weaker US dollar, coupled with concerns about global economic and political instability. Many investors are expecting gold prices to continue rising and possibly reach new record highs.

Gold prices are currently hovering above $2,900 an ounce, despite the US Federal Reserve Chairman maintaining a neutral stance on monetary policy.

Mr. Jerome Powell, Chairman of the FED, said the FED is not in a hurry to cut interest rates because the US economy and labor market are still stable, while inflation still poses many risks.

Mr. Powell also emphasized that if the economy continues to be strong but inflation does not fall to 2% on a sustainable basis, the Fed will maintain tight policy for longer. Conversely, if the labor market weakens or inflation falls faster than expected, the Fed will adjust policy accordingly.

Inflation will be in focus next week as markets digest key data on US prices and consumer spending.

Reports like the CPI, PPI, and the University of Michigan consumer confidence survey will be released, along with other important events like the Bank of Canada's interest rate decision and the US weekly unemployment report.

Gold Price Forecast

This week, market sentiment has changed significantly compared to last week. While last week only 21% of experts predicted gold prices to rise, this week that number has increased to 67%. Conversely, the number of experts predicting gold prices to fall has decreased from 64% to just 5%.

A similar shift has been seen among retail investors, with the proportion expecting gold prices to rise from 45% to 67%. This week’s survey also hit a 2025 high of 251, indicating greater investor interest in the gold market.

Central bank demand for gold will continue to support gold prices, according to experts. Chantelle Schieven, head of research at Capitalight Research, predicts that gold prices could reach $3,200 an ounce.

Bart Melek, head of commodity strategy at TD Securities, also believes that China and many other central banks will continue to buy gold to protect foreign exchange reserves and reduce the risk of sanctions from the US and EU. He predicts that gold prices will soon stabilize above $ 3,000 / ounce.

The recovery of gold prices to near historic highs shows that investors are looking to gold as a safe haven from economic and political concerns. Gold is considered a tool to preserve wealth against instability and inflation.

Concerns about US tariffs pushed gold to a record high of $2,956.15 on February 24, and prices have risen more than 11% so far this year, said Yeap Jun Rong, a market analyst at IG. He sees a $3,000 an ounce target becoming increasingly likely as gold continues its upward trend.

Analyst Fawad Razaqzada also said that the FED is likely to cut interest rates more amid weak economic data, which will support gold prices to remain high and possibly reach $3,000/ounce in the near future.