Gold price this morning January 8, 2025: Rapidly increased to 85.5 million
Gold prices this morning, January 8, 2025, continued to increase in the domestic market. SJC gold bars and plain rings increased rapidly to VND 85.5 million/tael (sold). In the international market, gold prices reversed and decreased slightly after a sharp increase last night.
Domestic gold price this morning January 8, 2025
Domestic gold prices continue to increase rapidly, with gold bar and gold ring prices adjusted up from 100,000 to 200,000 VND/tael in both directions.
Currently, the gold prices of the brands are listed specifically as follows:
The price of gold bars of all brands is currently 84 million VND/tael for purchase and 85.5 million VND/tael for sale. Meanwhile, Bao Tin Minh Chau gold bars are being purchased 100 thousand VND higher than other brands. Phu Quy SJC brand gold is being purchased 200 thousand VND higher than other brands.
Similarly, the price of gold rings of various brands was also adjusted to increase in both directions. Specifically, the price of SJC 9999 gold rings was listed at 84 million VND/tael for buying and 85.3 million VND/tael for selling, an increase of 200 thousand VND in both directions compared to early this morning.
DOJI Hung Thinh Vuong 9999 Round Ring in Hanoi and Ho Chi Minh City markets adjusted the buying price up by 100 thousand and the selling price up by 300 thousand to 84.5 million VND/tael and 85.7 million VND/tael respectively.
The listed buying and selling prices of PNJ brand gold rings are at 84.5 million VND/tael and 85.5 million VND/tael, an increase of 100,000 VND in buying price and 200,000 VND in selling price.
Bao Tin Minh Chau listed the price of plain round rings at 84.7 million VND/tael for buying and 85.9 million VND/tael for selling, an increase of 300 thousand VND in both buying and selling directions.
Phu Quy SJC is buying gold rings at 84.5 million VND/tael and selling at 85.8 million VND/tael, increasing 200 thousand VND for buying and 300 thousand VND for selling.
Details of today's gold price list (morning of January 8, 2025)
| Gold Type/Brand | Purchase price (million VND/tael) | Selling price (million VND/tael) | Increase |
|---|---|---|---|
| Gold bars of various brands | 84 | 85.5 | Increase 200 thousand VND/tael |
| Bao Tin Minh Chau (gold bars) | 84.1 | 85.5 | Increase 400k (buy), 500k (sell) |
| Phu Quy SJC (gold bars) | 84.2 | 85.5 | Increase 300k (buy), 200k (sell) |
| SJC 9999 gold ring | 84 | 85.3 | Increase 200 thousand VND in both directions |
| 9999 DOJI Round Ring (Hanoi & Ho Chi Minh City) | 84.5 | 85.7 | Increase 100k (buy), 300k (sell) |
| PNJ (gold rings) | 84.5 | 85.5 | Increase 100k (buy), 200k (sell) |
| Bao Tin Minh Chau (round ring) | 84.7 | 85.9 | Increase selling price by 300 thousand VND |
| Phu Quy (gold ring)9999) | 84.5 | 85.8 | Increase 200k (buy), 300k (sell) |
World gold price this morning January 8, 2025
At 8:36 a.m. today (January 8, Vietnam time), the world spot gold price was at 2,647.1 USD/ounce, down 9.9 USD/ounce compared to last night. The price of gold futures for February 2025 on the Comex New York floor was at 2,662 USD/ounce.
On the morning of January 8, the world gold price converted to USD bank price was at more than 82.3 million VND/tael, including tax and fees, about 3.2 million VND/tael lower than the domestic gold price.
Gold prices on the international market have skyrocketed. The prices of SJC gold bars and plain rings will increase rapidly. However, Goldman Sachs - the US banking giant has just forecast that there is no longer any expectation of a breakthrough this year.
Gold rallied again partly due to the weakening USD. The DXY index fell from 108.4 points to 108.15 points.
Gold also rose due to increased Russia-Ukraine tensions after Russian armed forces poured into Kursk province to deal with Ukraine's counter-offensive in the area. Russia sent General Yevkurov, one of its toughest commanders, to Kursk.
In the Middle East, according to the New York Post, Israeli officials are assessing the possibility of attacking Iran's nuclear facilities, wanting to eliminate the country's nuclear capabilities. This is considered a fairly large risk. Observers are concerned about potential reactions from countries such as China, Russia and the Democratic People's Republic of Korea.
Gold prices also rose due to some reports showing that the People's Bank of China (PBOC) resumed gold purchases in December. This was the second consecutive month of gold purchases after a previous 6-month pause.
The PBOC's gold reserves increased by 300,000 ounces in December, bringing the total to 73.3 million ounces, the report showed.
The rise in gold prices is also believed to have been influenced by the news that Indonesia has become a full member of the BRICS group of emerging economies. The BRICS group wants to reduce the influence of the US dollar on the international market.
