At the end of the session on May 8 , the price of gold bars at SJC closed at 118.5-120.5 million VND/tael (buy - sell), down 1.7 million VND/tael in both buying and selling compared to the end of yesterday's trading session.

At the end of the session, the price of 1-5 chi SJC gold rings and the price of 9999 gold rings at Doji were listed at 114-116.5 million VND/tael (buy - sell), down 1.5 million VND/tael in both buying and selling compared to yesterday's closing price.

This afternoon, the world gold price dropped sharply. At 2:42 p.m. today (May 8, Vietnam time), the world spot gold price was at 3,344.1 USD/ounce, down 65.9 USD/ounce compared to this morning.

Domestic gold price this afternoon also adjusted down rapidly following the trend of world gold prices.

At 2:15 p.m. , the price of SJC 9999 gold reversed and decreased by 2.2 million VND/tael in both buying and selling compared to early morning, to 118.5-120.5 million VND/tael (buying - selling).

Early this afternoon, SJC Company reduced the price of gold rings of type 1-5 to only 114-116.5 million VND/tael (buy - sell), down 1.5 million VND/tael in both buying and selling compared to early this morning.

Similarly, Doji Gold and Gemstone Group lowered the price of 9999 gold rings to 114-116.5 million VND/tael (buy - sell), also down 1.5 million VND/tael in both directions compared to early this morning.

Domestic gold ring prices fluctuated little this morning.

Early this morning, SJC Company listed the price of gold rings of type 1-5 at only 115.5-118 million VND/tael (buy - sell), unchanged from yesterday's closing price.

Doji Gold and Gemstone Group early this morning also listed the price of 9999 gold rings at 115.5-118 million VND/tael (buy - sell), unchanged from yesterday's closing price.

Buy (VND/tael) Increase/decrease Sell ​​(VND/tael) Increase/decrease
SJC 114,000,000 - 1,500,000 116,500,000 - 1,500,000
Doji 114,000,000 - 1,500,000 116,500,000 - 1,500,000

  SJC and Doji gold ring price list updated on the afternoon of May 8

Opening the trading session on May 8, the price of SJC 9999 gold was adjusted up by 500 thousand VND/tael in both buying and selling compared to the closing price of yesterday's trading session, to 120.7-122.7 million VND/tael (buying - selling).

Buy (VND/tael) Increase/decrease Sell ​​(VND/tael) Increase/decrease
SJC HCMC 118,500,000 - 1,700,000 120,500,000 - 1,700,000
Doji Hanoi 118,500,000 - 1,700,000 120,500,000 - 1,700,000
Doji HCMC 118,500,000 - 1,700,000 120,500,000 - 1,700,000

                    SJC and Doji gold bar price list updated on the afternoon of May 8

The central exchange rate on May 8 announced by the State Bank was 24,927 VND/USD, down 3 VND compared to the previous trading session. The USD price at commercial banks this morning (May 8) was commonly listed at 25,750 VND/USD (buy) and 26,140 VND/USD (sell).

At 9:34 a.m. today (May 8, Vietnam time) , the world spot gold price was at 3,410 USD/ounce, up 15 USD/ounce compared to last night. The price of gold futures for June 2025 on the Comex New York floor was at 3,416 USD/ounce.

On the morning of May 8 , the world gold price converted to USD bank price was over 108.5 million VND/tael, including tax and fees, about 14.2 million VND/tael lower than the domestic gold price.

As of 8:30 p.m. on May 7 (Vietnam time), the spot gold price today on the international market was at $3,395/ounce. Gold for June 2025 delivery on the Comex New York floor was at $3,402/ounce.

The world gold price on the night of May 7 was about 64.4% higher (equivalent to 1,329 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was 107.9 million VND/tael, including taxes and fees, about 14.3 million VND/tael lower than the domestic gold price as of the end of the afternoon session on May 7.

World gold prices fell sharply after the news that the US and China agreed to hold negotiations in Switzerland. This could be the first step to resolve the trade war that is disrupting the global economy.

Previously, the US imposed a 145% tax on imported goods from China, while Beijing imposed a 125% tax on US goods. This information immediately helped stabilize financial markets, and stock markets increased sharply.

The USD also increased and money flowed to risky assets such as stocks,... thereby putting pressure on gold.

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Gold prices today are under pressure to decrease after a strong increase earlier. Photo: HH

Previously, the price of gold skyrocketed by nearly $100 amid escalating geopolitical tensions in many places. Ukraine continued to use drones to attack many airports in Russia.

In the early hours of May 7, India launched a series of missile attacks on targets in Pakistan and Pakistan-controlled Kashmir, killing at least 26 people, mostly tourists. Pakistani Prime Minister Shehbaz Sharif condemned the attack as an "act of war" and vowed a "befitting response."

Domestically, gold prices remain at a very high level, above VND120 million/tael. Specifically, by the end of the trading session on May 7, the price of 9999 gold bars at SJC and Doji was listed at VND120.2-122.2 million/tael (buy-sell), unchanged from the previous session.

The price of gold rings is also high. By the end of the afternoon of May 7, SJC announced the price of gold rings of type 1-5 at only 115.5-118 million VND/tael (buy - sell). Doji also listed the price of 9999 plain gold rings at 115.5-118 million VND/tael (buy - sell).

Gold Price Forecast

World gold prices continue to fluctuate strongly, increasing and decreasing by 50-100 USD/ounce in a very short period of time.

The Trump and Xi administrations will meet on May 10-11 for trade talks. The two sides are expected to discuss broad tariff cuts. They will also discuss tariff removals on certain products, the US “de minimis” exemption policy, and the US export control list.

The US is also negotiating with dozens of other countries.

However, the results are still ahead.

Geopolitical uncertainties and policy surprises, along with a still-downward trending US dollar, are factors that are expected to continue to support gold.

The US Federal Reserve (Fed) is holding a policy meeting and is likely to keep interest rates unchanged when the meeting ends on May 7.

The Fed made a decision despite pressure from Mr. Trump, gold prices skyrocketed . The US Federal Reserve (Fed) kept interest rates unchanged at 4.25% - 4.5% after the meeting ended in the early morning of May 8. The Fed Chairman - a powerful man in the world's financial market - believes that he can respond to economic developments "in a timely manner".

Source: https://vietnamnet.vn/gia-vang-hom-nay-8-5-2025-sjc-va-nhan-van-tren-dinh-cao-2398797.html