Gold price today August 8, 2025: Domestic and world gold prices close to record levels, difference of 12.5 million VND

Gold priceDomestic today 8/8/2025

As of 4:00 a.m. today, August 8, 2025, the domestic gold bar price has increased beyond the 124 million mark. Specifically:

DOJI Group listed the price of SJC gold bars at 122.7-124.1 million VND/tael (buy - sell), an increase of 500 thousand VND/tael for buying - an increase of 300 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 122.4-123.8 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to the closing price on August 6 yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 123-124 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged for buying - increased by 200 thousand VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 122.4-123.8 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to the same period yesterday.

SJC gold price at Phu Quy is traded by businesses at 121.2-123.8 million VND/tael (buy - sell), gold price remains unchanged in both buying and selling directions compared to yesterday.

As of 4:00 a.m. on August 8, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 117.5-120 million VND/tael (buy - sell); the price remained unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 117.8-120.8 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday.

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

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

According to Kitco, the world gold price recorded at 4:00 a.m. on August 8, Vietnam time, was 3,389.08 USD/ounce. Today's gold price increased by 17.39 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,400 VND/USD), the world gold price is about 111.3 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 12.5 million VND/tael higher than the international gold price.

Gold prices rose to their highest level in more than two weeks on Tuesday, boosted by safe-haven demand after the US imposed import tariffs and jobs data raised expectations that the Federal Reserve could cut interest rates.

Specifically, spot gold prices increased by 0.52% to the highest level since July 23. Meanwhile, gold futures prices in the US also increased by nearly 0.7% to 3,455.60 USD.

Trade and geopolitical conflicts are driving demand for gold as a safe haven, experts say. The US has imposed higher tariffs on imports from several countries, including Switzerland, Brazil and India, forcing these partners to renegotiate trade deals.

In addition, the number of Americans filing for unemployment benefits rose to a one-month high, indicating signs of a slowing labor market. This reinforced expectations that the Fed will cut interest rates in the near future.

The Bank of England (BoE) has decided to cut its benchmark interest rate, sending the price of gold in British pounds up slightly. This morning, the BoE cut interest rates by 0.25%, from 4.25% to 4.00%. Of the nine members of the Monetary Policy Committee, five supported the cut, while four wanted to keep the rate unchanged.

Gold is often seen as a store of value during times of economic or political uncertainty. In addition, when interest rates fall, gold becomes more attractive because it does not offer a fixed return like bonds or bank deposits.

Weak U.S. jobs data last week pushed the odds of a 25 basis point rate cut next month to more than 91%. Some Fed officials have also expressed concerns about the labor situation and said two rate cuts this year are necessary.

Besides gold, spot silver also rose 1.5% to $38.40 an ounce, the highest since July 25. Platinum edged up 0.2% to $1,335.60, while palladium rose 2.5% to $1,159.93.

Gold Price Forecast

A Reuters poll in July showed that concerns about global trade and debt are pushing investors to safe-haven assets like gold. The median forecast from 40 analysts and traders showed gold could hit $3,220 an ounce this year, up from $3,065 in the previous poll.

The World Gold Council (WGC) has revised down its forecast for central bank gold purchases this year, but the long-term trend remains unchanged as many countries continue to shift from US dollars to gold to diversify their reserves.

According to official data, the People's Bank of China (PBOC) added gold to its reserves in July, reaching 73.96 million ounces, up slightly from 73.90 million ounces at the end of June. The value of gold reserves also increased from $242.93 billion to $243.99 billion over the same period.

According to the latest report from Bloomberg, the amount of gold bars stored in the warehouses of the Shanghai Futures Exchange has reached a record high. More than 36 tons of gold has been registered for futures trading, as investors take advantage of the price difference between spot gold and futures.

John Reade, a senior expert at the World Gold Council (WGC), said this is a clear sign of the strong attraction of gold in the current Chinese market. Banks and traders are adopting a strategy of buying low-priced spot gold to deliver to the exchange's warehouse, then using this gold to offset futures contracts, helping them to effectively close profits.

Experts from WisdomTree point out 5 macro factors that could push gold prices to new heights. In particular, if the Trump administration implements a monetary easing policy that weakens the USD, gold prices could surge.

After hitting a historic peak of $3,500 an ounce in April, gold prices are now hovering between $3,180 and $3,400. WisdomTree predicts prices could reach $3,850 by the second quarter of 2026, and even surpass $5,355 if the US dollar weakens significantly.

In Vietnam, the price of gold in July 2025 increased by 1.02% compared to the previous month and increased by 49.7% compared to the same period last year. In the first 7 months of the year, the growth rate reached 39.09%, mainly due to the scarce supply of gold bars in the market.