According to the World Gold Council (WGC), global central banks – a major source of gold demand – bought more than 1,000 tonnes of gold in 2024, marking the third consecutive year of such purchases. They are expected to remain active buyers in 2025.

At the end of the trading session on March 7, 2025, world gold prices and domestic gold prices tended to remain stable and decrease slightly.

Specifically, Saigon Jewelry Company (SJC) listed the price of gold bars at VND90.9 million/tael (buy) and VND92.9 million/tael (sell). The price of gold this afternoon increased by VND200,000/tael in both buying and selling directions compared to the end of yesterday's trading session.

DOJI system listed SJC gold at buying price of 90.9 million VND/tael and selling price of 92.9 million VND/tael. This price increased by 200,000 VND/tael in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the buying price of SJC gold is 91.9 million VND/tael and the selling price is 92.7 million VND/tael. Thus, compared to yesterday's session, the gold price increased sharply by 800,000 VND/tael in the buying direction - increased by 200,000 VND/tael in the selling direction.

Bao Tin Minh Chau Company Limited listed the price of SJC gold at 90.9 million VND/tael (buy) and 92.9 million VND/tael (sell). This price increased by 200,000 VND/tael in both buying and selling directions compared to yesterday.

Gold price forecast tomorrow March 8, 2025. Photo PC

Meanwhile, the price of SJC 9999 gold rings is currently buying at 90.9 million VND/tael and selling at 92.8 million VND/tael. The price of gold rings increased by 200 thousand VND/tael in both buying and selling directions compared to the end of yesterday's trading session.

For Hung Thinh Vuong 9999 gold ring (DOJI), the buying price increased to 91.6 million VND/tael and the selling price increased to 93.2 million VND/tael, an increase of 200 thousand VND/tael in both buying and selling directions compared to yesterday.

Gold price forecast tomorrow 03/08/2025

Gold prices edged up slightly and were on track to rise this week as a weaker dollar and uncertainty surrounding U.S. President Donald Trump's tariff plans bolstered demand for the metal, while investors awaited U.S. non-farm payrolls data due later in the day, Reuters reported.

Spot gold rose 0.2% to $2,916.88 an ounce as of 0800 GMT. Bullion has gained more than 2% this week.

US gold futures fell 0.3% to $2,918.80.

“The market is waiting for fresh moves regarding what might happen in the future regarding the trade war… The outlook (for gold) continues to be very bullish,” said Kunal Shah, head of research at Nirmal Bang Commodities in Mumbai.

President Trump on Thursday suspended 25% tariffs imposed this week on most goods from Canada and Mexico, the latest move in a volatile trade policy that has roiled financial markets and raised concerns about inflation and slowing growth.

Ongoing trade tensions, uncertain inflation and a weaker dollar signaling a slowing economy are all factors driving gold prices, Shah said.

The dollar index (.DXY) is hovering near a four-month low and is headed for its worst weekly decline since November 2022. Trump's policies, which are seen as likely to cause economic turmoil, have helped safe-haven gold gain more than 10% year-to-date.

Federal Reserve Governor Christopher Waller said he is leaning against cutting interest rates at the Fed's next policy meeting this month, although he said a rate cut later in the year is still on the cards if inflation pressures continue to ease.

Gold bullion is seen as a hedge against political risk and inflation, but higher interest rates reduce the appeal of the non-yielding asset.

The focus now is on the non-farm payrolls report due at 1330 GMT, which is expected to show 160,000 jobs added in February, according to a Reuters poll.

Spot silver fell 0.1% to $32.60 an ounce. Platinum rose 0.7% to $972.85 and palladium rose 0.5% to $946.75.