Gold price this morning, January 8, 2025: Rising rapidly to 85.5 million VND.
Gold prices continued to rise in the domestic market this morning, January 8, 2025. SJC gold bars and plain gold rings quickly increased to 85.5 million VND/ounce (selling price). In the international market, gold prices reversed course and fell slightly after a sharp increase last night.
Domestic gold prices this morning, January 8, 2025
Domestic gold prices continued to rise rapidly, with the price of gold bars and gold rings adjusted upwards by 100,000 to 200,000 VND per tael in both buying and selling prices.
Currently, the prices of gold from various brands are listed as follows:
Gold bars from various brands are currently being bought at 84 million VND and sold at 85.5 million VND per tael. Meanwhile, Bao Tin Minh Chau gold bars are being bought at a price 100,000 VND higher than other brands. Phu Quy SJC gold bars are being bought at a price 200,000 VND higher than other brands.
Similarly, the prices of gold rings from various brands have also been adjusted upwards in both buying and selling directions. Specifically, the listed price of SJC 9999 gold rings is 84 million VND/ounce for buying and 85.3 million VND/ounce for selling, an increase of 200,000 VND in both directions compared to early yesterday morning.
DOJI's 9999 Prosperity Rings in Hanoi and Ho Chi Minh City saw price adjustments, increasing by 100,000 VND for buying and 300,000 VND for selling, reaching 84.5 million VND/ounce and 85.7 million VND/ounce respectively.
The buying and selling prices of PNJ branded gold rings are listed at 84.5 million VND/ounce and 85.5 million VND/ounce, an increase of 100,000 VND in the buying price and 200,000 VND in the selling price.
Bao Tin Minh Chau listed the price of plain gold rings at 84.7 million VND/ounce for buying and 85.9 million VND/ounce for selling, an increase of 300,000 VND in both buying and selling prices.
Phu Quy SJC is currently buying gold rings at 84.5 million VND/ounce and selling them at 85.8 million VND/ounce, an increase of 200,000 VND in the buying price and 300,000 VND in the selling price, respectively.
Details of today's gold price chart (morning of January 8, 2025)
| Gold type/Brand | Purchase price (million VND/ounce) | Selling price (million VND/ounce) | Increase |
|---|---|---|---|
| Gold bars from various brands | 84 | 85.5 | An increase of 200,000 VND per tael. |
| Bao Tin Minh Chau (gold bars) | 84.1 | 85.5 | Increase by 400,000 (buy), 500,000 (sell) |
| Phu Quy SJC (gold bars) | 84.2 | 85.5 | Increase by 300,000 (buy), 200,000 (sell) |
| SJC 9999 gold ring | 84 | 85.3 | An increase of 200,000 VND in both directions. |
| DOJI 9999 Round Rings (Hanoi & Ho Chi Minh City) | 84.5 | 85.7 | Increase by 100,000 (buy), 300,000 (sell) |
| PNJ (gold rings) | 84.5 | 85.5 | Increase by 100,000 (buy), 200,000 (sell) |
| Bao Tin Minh Chau (round ring) | 84.7 | 85.9 | The selling price increased by 300,000 VND. |
| Phu Quy (gold ring)9999) | 84.5 | 85.8 | Increase by 200,000 (buy), 300,000 (sell) |
World gold prices this morning, January 8, 2025
At 8:36 AM today (January 8th, Vietnam time), the spot price of gold in the world market was $2,647.1 per ounce, down $9.9 per ounce compared to last night. The price of gold futures for February 2025 on the Comex New York exchange was $2,662 per ounce.
On the morning of January 8th, world gold prices, converted using the bank's USD exchange rate, were over 82.3 million VND/ounce, including taxes and fees, which is approximately 3.2 million VND/ounce lower than domestic gold prices.
Gold prices on the international market have surged. The price of SJC gold bars and plain gold rings is expected to rise rapidly as well. However, Goldman Sachs – the major American bank – has just forecast that it no longer expects a breakthrough this year.
Gold surged again, partly due to a weakening US dollar. The DXY index fell from 108.4 points to 108.15 points.
Gold prices also rose due to increased tensions between Russia and Ukraine after Russian armed forces concentrated in the Kursk province to counter a Ukrainian counteroffensive in the area. Russia deployed General Yevkurov, one of its most hardline commanders, to Kursk.
Meanwhile, in the Middle East, according to the New York Post, Israeli officials are assessing the possibility of attacking Iranian nuclear facilities, aiming to eliminate the country's nuclear capabilities. This is considered a significant risk, and observers are concerned about potential reactions from countries such as China, Russia, and North Korea.
Gold prices also rose due to reports indicating that the People's Bank of China (PBOC) resumed gold purchases in December. This marked the second consecutive month of gold purchases after a six-month hiatus.
The report shows that the PBOC's gold reserves increased by 300,000 ounces in December, bringing the total to 73.3 million ounces.
The rise in gold prices is also believed to be influenced by the news that Indonesia has become a full member of the BRICS group of emerging economies. The BRICS group aims to reduce the influence of the US dollar on international markets.
