Gold price today April 8, 2025: Domestic and world gold prices fell to the lowest level in the past 3 weeks

Domestic gold price today April 8, 2025

At the time of survey at 4:30 a.m. on April 8, 2025, the domestic gold price is forecast to fall below 100 million. The current domestic gold price is at the following levels:

DOJI Group listed the price of SJC gold bars at 97.1-100.1 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 97.1-100.1 million VND/tael (buy - sell), unchanged in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 98.7-100.7 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 600 thousand VND/tael for buying and decreased by 100 thousand VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 97.3-100.1 million VND/tael (buying - selling, increased 100 thousand VND/tael in buying direction - unchanged in selling direction compared to yesterday.

SJC gold price in Phu Quy is traded by businesses at 97.3-100.1 million VND/tael (buy - sell), gold price increased 200 thousand VND/tael in buying price - unchanged in selling price compared to yesterday.

As of 4:30 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 96.7-100.1 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 97.5-100.5 million VND/tael (buy - sell); unchanged in both buying and selling directions.

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

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

According to Kitco, the world gold price recorded at 4:30 am today, Vietnam time, was at 3008.95 USD/ounce. Today's gold price decreased by 26.97 USD/ounce compared to yesterday. Converted according to the USD exchange rate in the free market (25,910 VND/USD), the world gold price is about 94.65 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 5.45 million VND/tael higher than the international gold price.

The world gold price slightly decreased as many investors rushed to buy foreign currencies such as Japanese Yen or Swiss Franc as a safe haven. The main reason came from the fear of global recession after the US imposed new taxes. However, experts are still optimistic about the prospect of increasing gold prices in the context of many economic risks.

Gold prices today hit a three-week low. Meanwhile, US gold futures edged up 0.5% to $3,048.90. Nikos Tzabouras, an analyst at Tradu.com, said: "Gold fell as investors turned to cash and other safe havens like the Swiss Franc or Japanese Yen."

The US Dollar Index rose against other currencies, making gold more expensive for holders of other currencies. Stock markets also plunged, with the S&P 500 at risk of falling into a bear market (down 20% from its yearly peak).

JP Morgan's chief executive warned that tariffs would push up prices while slowing economic growth, leading to both inflation and recession - the worst-case scenario for the economy.

The VIX, a measure of market volatility, is currently above 50, a level only seen three times in the past 20 years - during the 2008-2009 financial crisis and the 2020 COVID-19 pandemic. This shows that the market is extremely unstable.

The historic sell-off is expected to peak this week, with many commodities finding a short-term bottom. However, if the forecast is wrong and the market continues to fall, the US and global economies are at risk of falling into recession.

Despite the short-term decline, many factors still support gold's price increase. Mr. Ole Hansen of Saxo Bank commented: "As the market stabilizes, recession risks, a weaker dollar and expectations of interest rate cuts will help gold recover." The market is currently predicting that the Fed can cut interest rates by 120 basis points this year, with a 47% chance of a rate cut in May.

Silver rallied 2.2% to $30.19 an ounce after hitting a seven-month low. Platinum and palladium both edged up slightly to $928.19.

Gold price forecast

Technically, gold is still in an uptrend despite the slight decline. Selling pressure seems to have weakened after the recent sharp declines. The next target for buyers is to push the price above the resistance at $3,201.60, while sellers are trying to push the price below $2,950. The nearest support and resistance levels are at $3,032.70 and $3,084.40, respectively.

Deutsche Bank recently revised up its forecast for the average gold price over the next two years. Accordingly, the gold price could average $3,139/ounce in 2025 and $3,700/ounce in 2026. The main reason given is strong economic and geopolitical fluctuations around the world.

Despite the decline in gold prices last week, banks still believe that the prospect of gold price increase is very strong. The increasing tension from US President Donald Trump's tax policies, along with the risk of economic recession, is making the market believe that the US Federal Reserve (Fed) may have to cut interest rates as early as May.

Deutsche Bank also said that the proportion of gold in central banks' asset purchases has increased sharply since 2022. If gold previously accounted for only 10% of purchases, it has now increased to 24%, far exceeding the rate of US government bond purchases (only about 7-10%).

Central banks are expected to continue buying gold this year and next. However, HSBC notes that if gold prices surpass $3,000 an ounce, buying momentum could slow. Conversely, if prices fall below $2,800 an ounce, buying power could pick up again.

Everett Millman, chief market analyst at Gainesville Coins, said the rapid price increase in the first quarter of the year makes the $3,000 mark difficult to consider as a solid support level.

He predicts that if the selling pressure continues, gold prices could fall to $2,900 an ounce or even lower. According to Millman, this is a sensitive and decisive moment for the upcoming trend of the gold market.

However, not everyone is optimistic about the gold price outlook. Morningstar strategist John Mills warns that gold could fall sharply to $1,820 an ounce in the next few years, a drop of nearly 38% from the current level. According to him, the recent price increase is mainly due to fear, and as inflation expectations ease and international trade normalizes, gold prices could completely correct sharply lower.