Gold price today March 8, 2025: World gold prices have begun to form at a new high, hovering around the $2,900 mark. Domestic gold prices have been steadily increasing ahead of International Women's Day March 8, widening the gap with world gold, showing that domestic gold demand remains high.
| 1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply source - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 91,700 | 93,200 |
| HCMC - SJC | 90,900 ▼200K | 92,900 ▼200K |
| Hanoi - PNJ | 91,700 | 93,200 |
| Hanoi - SJC | 90,900 ▼200K | 92,900 ▼200K |
| Da Nang - PNJ | 91,700 | 93,200 |
| Da Nang - SJC | 90,900 ▼200K | 92,900 ▼200K |
| Western Region - PNJ | 91,700 | 93,200 |
| Western Region - SJC | 90,900 ▼200K | 92,900 ▼200K |
| Jewelry gold price - PNJ | 91,700 | 93,200 |
| Jewelry gold price - SJC | 90,900 ▼200K | 92,900 ▼200K |
| Jewelry gold price - Southeast | PNJ | 91,700 |
| Jewelry gold price - SJC | 90,900 ▼200K | 92,900 ▼200K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 91,700 |
| Jewelry gold price - Jewelry gold 999.9 | 90,600 | 93,100 |
| Jewelry gold price - Jewelry gold 999 | 90,510 | 93,010 |
| Jewelry gold price - Jewelry gold 99 | 89,770 | 92,270 |
| Jewelry gold price - 916 gold (22K) | 82,880 | 85,380 |
| Jewelry gold price - 750 gold (18K) | 67,480 | 69,980 |
| Jewelry gold price - 680 gold (16.3K) | 60,960 | 63,460 |
| Jewelry gold price - 650 gold (15.6K) | 58,170 | 60,670 |
| Jewelry gold price - 610 gold (14.6K) | 54,440 | 56,940 |
| Jewelry gold price - 585 gold (14K) | 52,110 | 54,610 |
| Jewelry gold price - 416 gold (10K) | 36,380 | 38,880 |
| Jewelry gold price - 375 gold (9K) | 32,560 | 35,060 |
| Jewelry gold price - 333 gold (8K) | 28,370 | 30,870 |
Update gold price today 3/8/2025
World gold prices skyrocket again in a more unstable era.
Precious metals markets have surged amid global power shifts and economic uncertainty. The market is starting to settle into new highs, with gold back above $2,900 an ounce, up more than 11% so far this year.
The world is clearly changing and new power dynamics are emerging, with investors starting to navigate a global trade war and a potential currency war, according to Axel Merk, chief investment officer and founder of Merk Investments.
According to the World and Vietnam at 8:50 p.m. on March 6 (Hanoi time), the world gold price listed on the Kitco electronic floor was at 2,921.10 USD/ounce, an increase of 7.5 USD/ounce compared to the previous trading session.
In the short term, the world gold price is consolidating a new high - around 2,900 USD, reflecting the cautious sentiment of investors in the face of global economic fluctuations. The market is waiting for the US employment report, a factor that can strongly influence the interest rate policy of the US Federal Reserve (Fed).
The market also temporarily had a more optimistic view after the White House announced a one-month tax deferral for automakers under the United States-Mexico-Canada Agreement (USMCA). In addition, Europe is increasing its defense budget, raising expectations of improved economic growth in the region. This has caused financial investors to pour capital into stocks, keeping the world gold price under control.
In the long term, the US is seen as withdrawing from the international spotlight to focus on domestic development, while Europe is looking to move forward. Investors can expect some volatility as the world adjusts to new global leadership, changes that will continue to support gold prices.
Lower yields, coupled with a weaker US dollar, signaled a positive environment for gold prices for most of the month – in fact, gold hit nine new record highs in February. Analysts believe that falling opportunity costs and record-breaking gold prices are the gravitational pull that attracts capital into the market.
Furthermore, the pullback in equity markets and concerns about stagflation are also likely to be positive drivers for gold demand. While gold prices appear to be consolidating below $3,000 an ounce, the World Gold Council (WGC) said its model suggests a healthy environment for gold prices as inflation risks rise along with global economic uncertainty.
Domestic gold prices continue to increase slightly, demand remains high.
The gap between SJC gold price and world gold price has now widened to 3.6 million VND/tael, showing that domestic gold demand remains high. According to observations, domestic gold price is still "hot" with new highs, however, many people are still "enthusiastically" buying without being shaken by the worry that gold price will continue to increase.
In fact, the number of people flocking to gold shops and large gold and gemstone stores in Hanoi is still quite large. However, buying gold is not too difficult, the waiting time is about 30 minutes, the demand is met with quick and convenient payment procedures. There is no longer a shortage of goods or having to wait for many hours like two weeks ago.
SJC gold bar price closed the trading session on March 7 at 90.9 - 92.9 million VND/tael (buy - sell), up 200,000 VND/tael compared to the previous session.
The price of 9999 round plain gold rings has maintained its upward trend since March 5, extending the trend through International Women's Day, March 8. In particular, the price of gold rings on March 6-7 increased sharply, surpassing the 93 million VND/tael mark. The strong increase has made many people worry that the price of gold will continue to increase.
Gold ring products at Saigon Jewelry Company (SJC) are currently trading at around VND90.9 - 92.8 million/tael; Bao Tin Minh Chau is trading at VND91.8 - 93.3 million/tael; PNJ system closed transactions at VND91.5 - 92.9 million/tael; DOJI is currently trading at VND90.9 - 92.9 million/tael.
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| Gold price today March 8, 2025: Gold price sets new high, 'power chessboard' is unpredictable, buying gold is still a safe investment solution. (Source: Kitco) |
Summary of SJC gold bar prices and 9999 gold ring prices at major domestic trading brands at the closing time of the trading session on March 7:
Saigon Jewelry Company SJC: SJC gold bars 90.9 - 92.9 million VND/tael; SJC gold rings 90.9 - 92.8 million VND/tael.
DOJI Group: SJC gold bars 90.9 - 92.9 million VND/tael; 9999 round rings (Hung Thinh Vuong) 90.9 - 92.9 million VND/tael.
PNJ system: SJC gold bars 90.9 - 92.9 million VND/tael; PNJ 999.9 plain gold rings at 91.5 - 92.9 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 90.9 - 92.9 million VND/tael; round gold ring price is 91.8 - 93.3 million VND/tael.
Buying gold is a form of "insurance"
Earlier this week, the European Union (EU) outlined a plan to spend nearly €800bn on defence spending, and the UK government said last week it would increase defence spending by £6bn a year, equivalent to an increase to 2.5% of GDP by 2027. “Just a few days ago, everything in Europe was falling apart, but now European stocks are soaring on expectations of huge stimulus spending,” said Axel Merk.
Breaking the situation down further, the Merk Investments chief investment officer added that while Europe has room to increase spending to boost its military and infrastructure, this only adds to the bigger picture — that global deficit spending continues to rise, fueling populism and instability.
“The US is no longer the ‘global policeman,’ and while that has created some problems, it has also had positive effects on the global economy. But right now, we have completely new power dynamics emerging. This is going to be a more volatile era. This is going to be a less efficient era. This is going to be an era with more deficits,” said the founder of Merk Investments.
It's hard to say how things will play out, he said, but he believes "one of the reasons people are buying gold is precisely because of these risks. This demand doesn't guarantee that gold prices will continue to rise sharply, but more and more people want to have a little bit of gold as 'insurance'."
While the U.S. is adopting more domestic policies, investor Axel Merk said he does not expect the dollar to lose its reserve currency status. However, the changes could lead to a more multipolar currency world, which would provide good global support for gold.
The market has also seen an increase in demand for gold from central banks. According to the WGC, total global gold reserves increased by 18 tonnes in the first month of 2025. Previously, in 2024, central banks bought 1,045 tonnes of gold, marking the third consecutive year that official gold holdings exceeded 1,000 tonnes.
In addition, in addition to continued investment demand, Merk said, weak growth continues to support gold prices as the Fed is forced to cut interest rates. Accordingly, the market has begun to price in two interest rate cuts this year, as data from the Atlanta Fed showed that economic growth contracted 2.4% in the first quarter. Just two weeks ago, the Fed expected the economy to grow 2.3%.
It is too early to tell whether the US economy will avoid a recession; however, the uncertainty will weigh on investor sentiment. “The winner is the sophisticated, diversified investor, because in traditional portfolio allocation, no asset is completely safe,” said Merk Investments chief investment officer.
Source: https://baoquocte.vn/gia-vang-hom-nay-832025-gia-vang-cung-co-nguong-cao-moi-ban-co-quyen-luc-kho-luong-cach-dau-tu-an-toan-van-la-mua-vang-306714.html
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