Gold price today 2/8/2025: World gold price has just "made history" this week. Meanwhile, domestic gold price has just gone through "emotional" days of gold hunting for the God of Wealth. Financial strategists suggest where to invest in the current period of high risks and strong economic fluctuations?
| 1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 86,700 | 90,100 ▲600K |
| HCMC - SJC | 86,800 ▲400K | 90,300 ▲700K |
| Hanoi - PNJ | 86,700 | 90,100 ▲600K |
| Hanoi - SJC | 86,800 ▲400K | 90,300 ▲700K |
| Da Nang - PNJ | 86,700 | 90,100 ▲600K |
| Da Nang - SJC | 86,800 ▲400K | 90,300 ▲700K |
| Western Region - PNJ | 86,700 | 90,100 ▲600K |
| Western Region - SJC | 86,800 ▲400K | 90,300 ▲700K |
| Jewelry gold price - PNJ | 86,700 | 90,100 ▲600K |
| Jewelry gold price - SJC | 86,800 ▲400K | 90,300 ▲700K |
| Jewelry gold price - Southeast | PNJ | 86,700 |
| Jewelry gold price - SJC | 86,800 ▲400K | 90,300 ▲700K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 86,700 |
| Jewelry gold price - Jewelry gold 999.9 | 86,700 | 89,200 ▲1100K |
| Jewelry gold price - Jewelry gold 999 | 86,610 | 89,110 ▲1100K |
| Jewelry gold price - Jewelry gold 99 | 85,910 ▼410K | 88,410 ▲1090K |
| Jewelry gold price - 916 gold (22K) | 79,310 ▼490K | 81,810 ▲1010K |
| Jewelry gold price - 750 gold (18K) | 64,550 ▼280K | 67,050 ▲820K |
| Jewelry gold price - 680 gold (16.3K) | 58,310 ▼350K | 60,810 ▲750K |
| Jewelry gold price - 650 gold (15.6K) | 55,630 ▼390K | 58,130 ▲710K |
| Jewelry gold price - 610 gold (14.6K) | 52,060 ▼430K | 54,560 ▲670K |
| Jewelry gold price - 585 gold (14K) | 49,830 ▼460K | 52,330 ▲640K |
| Jewelry gold price - 416 gold (10K) | 34,760 ▼640K | 37,260 ▲460K |
| Jewelry gold price - 375 gold (9K) | 31,100 ▼690K | 33,600 ▲410K |
| Jewelry gold price - 333 gold (8K) | 27,090 ▼730K | 29,590 ▲370K |
Update gold price today 2/8/2025
World gold prices advanced to a historic level, breaking the psychological threshold of 2,900 USD .
However, profit-taking caused gold prices to fall immediately after breaking the $2,900/ounce threshold - a very important psychological threshold.
According to the World and Vietnam Newspaper at 9:30 p.m. on February 7 (Hanoi time), the world gold price traded on the Kitco electronic floor was at 2,873.10 - 2,874.10 USD/ounce , an increase of 17.7 USD/ounce compared to the previous trading session.
Gold prices have broken new ground, with the most active April futures contract briefly trading above the psychologically important $2,900 an ounce. While the market at that price level was unsustainable, it attracted only a few traders and investors to take quick profits. But in fact, after April gold prices broke above $2,900, it took just 10 minutes for gold to hit an all-time high of $2,906 and then trade for about 20 minutes before falling back below $2,900 an ounce. And it closed for the first time at $2,900.40 an ounce.
The US dollar had some impact on gold prices, with the US dollar index falling 0.34% to 107.62. This suggests that the weakness in the US dollar has supported gold in trading to a new all-time record high. Meanwhile, the decline in gold from the new record high was entirely a net result of aggressive selling and profit-taking by traders. This suggests that the tariffs imposed by the US on China remain the focus of market participants and precious metals investors.
Thus, the world gold price has increased by more than 10.63% since gold traded at $2,620 on December 19. From the low of December 19 to the high of February 6, the gold price increased by $279, which is one of the rare largest price increases that have occurred recently. Therefore, it seems that investors and traders will look for strategic points to take profits. That is, gold may experience a shallow correction and continue to have a bullish market sentiment.
The sharp rise and fall in domestic gold prices has caused 'surfers' to experience many emotions.
If the domestic gold price dropped sharply near the God of Wealth's day, then on the morning of the 10th day of the first lunar month (February 7), after a few hours of trading in the first few hours of the day, the gold price rebounded as every year due to the increasing demand from customers. By the end of the God of Wealth's day, the gold price had increased by about half a million VND in the day.
However, the biggest difference on this year's God of Wealth Day is that the price of gold is too high and most people buy small quantities just for luck. Meanwhile, to prevent risks, businesses keep a large difference between buying and selling prices, so investors "surfing" do not make a profit, and can even lose money at any time.
In addition, experts warn that gold prices often tend to decrease after the God of Wealth's day every year, so investors need to be cautious.
At the close of trading on February 7, the price of SJC gold bars was listed by Saigon Jewelry Company at VND86.8 - 90.3 million/tael (buy-sell). The price of 9999 gold was listed at VND86 - 89.6 million/tael.
Price of plain round gold ring After a sharp decrease to 89.55 million VND/tael yesterday, Bao Tin Minh Chau Company increased by 400,000 VND/tael today, to 86.5 - 89.95 million VND/tael (buy - sell).
The world gold price is currently equivalent to 88 million VND/tael. Currently, the domestic gold price is about 4 million VND/tael higher than the world gold price.
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| Gold price today February 8, 2025: Gold price reaches historic milestone, the world jubilantly breaks the psychological threshold of 2,900 USD, what are investors panicking about? (Source: Kitco) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of trading session on February 7 (ie January 10 of the Lunar calendar):
Saigon Jewelry Company SJC: SJC gold bars 86.8 - 90.3 million VND/tael; SJC gold rings 86.5 - 89.95 million VND/tael.
DOJI Group: SJC gold bars 86.8 - 90.3 million VND/tael; 9999 round rings (Hung Thinh Vuong) 86.6 - 90.30 million VND/tael.
PNJ system: SJC gold bars 86.7 - 90.1 million VND/tael; PNJ 999.9 plain gold rings at 86.70 - 90.1 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 86.8 - 90.3 million VND/tael; Phu Quy 999.9 round gold rings: 86.70 - 90.20 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 86.8 - 90.3 million VND/tael; round gold ring price is 86.5 - 89.95 million VND/tael.
Investors panic, hold on to gold, why?
“Panic investors are holding onto their gold like the ultimate safety blanket,” said Kathy Kriskey, commodity strategist at Invesco.
Gold is traditionally sensitive to US monetary policy, as higher interest rates increase the opportunity cost of holding non-yielding bullion. At the same time, higher interest rates also support the US dollar, creating a secondary headwind for gold.
However, strategist Kathy Kriskey recently said that investors should pay attention to a new factor driving gold prices. The expert explained that investors are turning to gold to protect themselves from ongoing global economic and geopolitical uncertainty. She pointed out that this sentiment is not new, as many older investors have long considered gold as a way to protect their assets. However, she noted that it is surprising that many new investors are also starting to pay attention to gold as market volatility increases.
“If you are an investor and something scares you and you want to hide under the bed, you need to have gold in your portfolio. Gold is the ultimate safety blanket,” said Strategist Kriskey.
Stock market volatility is also prompting investors to reassess the health of their portfolios, Kriskey said, adding that disruption in the technology sector is causing many to question stock market valuations.
Meanwhile, gold’s recent rally to back-to-back daily record highs has pushed prices up more than 8% so far in 2025. Meanwhile, US stocks are up just 2.8% and even the US dollar has posted losses this year.
Asked why gold is such an attractive safe haven right now, strategist Kriskey pointed to central banks looking to diversify their portfolios away from the dollar as the main buyers. The People’s Bank of China, for example, bought gold for 18 straight months, then stopped buying for six months in mid-2024, only to re-enter the market at the end of the year.
"China's reserves are only 5% gold, so I'm very hopeful that Beijing will continue to buy, especially in the trade wars with the US, they need to de-dollarize. So China, especially other central banks, are providing an important floor for gold," said Kathy Kriskey.
The World Gold Council (WGC) also said that central banks bought 1,045 tonnes of gold in 2024, marking the third consecutive year they bought more than 1,000 tonnes.
While gold is an attractive safe-haven asset, Kriskey notes that it has its limits. She does not see gold as a strong hedge against inflation. Instead, the strategist recommends that investors looking to protect themselves from economic uncertainty and inflation invest in a broad basket of commodities with a high weighting of gold.
“I like gold. Gold is one of my favorite commodities. But I didn’t like gold in 21 and 22 because it’s not a good hedge against inflation,” said Kriskey.
But now, the strategist has a different view on investing, “I think gold will lead the way this year. But to hedge against inflation, I would create a broad basket of three sectors: energy, metals and agriculture,” the Invesco strategist shared.
And Kriskey’s final piece of advice for investors is to avoid chasing gold and other commodities, like coffee, when they’re at record highs. “There’s a place in your portfolio for broad commodities for a number of reasons, but wait for the dips, be disciplined and allocate when those commodities go through small pullbacks,” she said.
Source: https://baoquocte.vn/gia-vang-hom-nay-822025-gia-vang-can-moc-lich-su-the-gioi-tung-bung-pha-nguong-tam-ly-2900-usd-nha-dau-tu-hoang-so-dieu-gi-303493.html
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