Gold price today (April 8): World gold prices fell sharply as investors turned to other safe havens amid growing concerns about a global economic recession.
Domestic gold price today
Gold price Domestic gold prices are stable. Currently, gold brands are buying at 97.1 million VND/tael and selling at 100.1 million VND/tael. Phu Quy SJC and Bao Tin Minh Chau gold are buying at 200,000 VND higher than other brands.
Similarly, the buying and selling prices of gold rings of various brands were also maintained at the same level as yesterday morning. Specifically, the price of SJC 9999 gold rings was listed at VND97 million/tael for buying and VND100 million/tael for selling.
DOJI in Hanoi and Ho Chi Minh City markets kept the buying and selling prices the same as yesterday morning at 96.7 million VND/tael and 100.1 million VND/tael.
PNJ brand gold ring price is anchored at 97.5 million VND/tael for buying and 100.1 million VND/tael for selling.
Bao Tin Minh Chau listed the price of plain round gold rings at 97.6 million VND/tael for buying and 100.3 million VND/tael for selling.
Phu Quy SJC is buying gold rings at 97.5 million VND/tael and selling at 100.5 million VND/tael.
Domestic gold bar prices updated at 5:30 a.m. April 8 as follows:
Yellow | Area | Early morning 7-4 | Early morning 8-4 | Difference | ||||||
Buy | Sell | Buy | Sell | Buy | Sell | |||||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | |||||||||
DOJI | 97.1 | 100.1 | 97.1 | 100.1 | - | - | ||||
Ho Chi Minh City | 97.1 | 100.1 | 97.1 | 100.1 | - | - | ||||
SJC | Ho Chi Minh City | 97.1 | 100.1 | 97.1 | 100.1 | - | - | |||
Hanoi | 97.1 | 100.1 | 97.1 | 100.1 | - | - | ||||
Danang | 97.1 | 100.1 | 97.1 | 100.1 | - | - | ||||
PNJ | Ho Chi Minh City | 97.1 | 100.1 | 97.1 | 100.1 | - | - | |||
Hanoi | 97.1 | 100.1 | 97.1 | 100.1 | - | - | ||||
Bao Tin Minh Chau | Nationwide | 97.2 | 100.1 | 97.3 | 100.1 | +100 | - | |||
Phu Quy SJC | Nationwide | 97.3 | 100.1 | 97.3 | 100.1 | - | - | |||
World gold price today
World gold prices fell sharply, with spot gold falling $53.3 to $2,985.5 an ounce. Gold futures last traded at $2,973.6 an ounce, down $61.8 from early this morning.
Gold prices fell more than 2% on Monday, pressured by a rebound in the U.S. dollar. The dollar rebounded from a six-month low hit last week. A stronger greenback makes gold more expensive for holders of other currencies.
Gold prices fell as investors turned to cash and other safe havens amid market turmoil, creating the risk of a deeper correction, according to Tradu.com senior market analyst Nikos Tzabouras.
TD Securities commodity strategist Bart Melek said the gold market is under pressure due to liquidity concerns and investor position closing.
Major stock indexes fell sharply in volatile trading after US President Donald Trump warned of a 50% tariff on China if it did not cancel retaliatory tariffs.
Meanwhile, the White House confirmed that the information that the Trump administration is considering suspending tariffs for 90 days is fake news.
Gold, used as a safe-haven investment during times of political and financial uncertainty, hit an all-time high of $3,167.57 an ounce last Thursday, boosted by strong safe-haven inflows amid geopolitical uncertainty and strong demand from central banks.
Despite the sharp decline, analysts remain bullish on bullion due to challenging economic conditions. “We conclude that the gold bullion trend remains strong despite this week’s correction and continue to raise our year-end forecast to $3,350/oz,” Deutsche Bank said.
Investors are speculating that the growing risk of a recession could prompt the Federal Reserve to cut interest rates as early as May. The market is currently pricing in a 37% chance of a rate cut in May.
With the domestic gold bar price stable and the world gold price listed at Kitco at 3,985.5 USD/ounce (equivalent to about 93.4 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 6.7 million VND/tael.
Source: https://baolangson.vn/gia-vang-hom-nay-8-4-lao-doc-5043412.html
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