Gold price update on the morning of October 8: Continue to increase, approaching the threshold of 4,000 USD/ounce

SJC gold bar price

As of 6:00 a.m. on October 8, the price of SJC gold bars was listed by DOJI Group and Bao Tin Minh Chau at 138.6-140.6 million VND/tael (buy in - sell out), an increase of 1.5 million VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

Phu Quy Gold and Stone Group listed the price of SJC gold bars at 138-140.6 million VND/tael (buy in - sell out), an increase of 500,000 VND/tael in both directions. The difference between buying and selling prices is at 2.6 million VND/tael.

9999 gold ring price

As of 6:00 a.m. on October 8, DOJI Group listed the price of gold rings at VND135-138 million/tael (buy in - sell out), an increase of VND500,000/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 136.2-139.2 million VND/tael (buy - sell), an increase of 900,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 135.2-138.2 million VND/tael (buy in - sell out), an increase of 700,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

The world gold price was listed at 10:35 p.m. on October 7 at 3,984 USD/ounce, up 30.6 USD.

Gold price forecast

Expectations of the US Federal Reserve (FED) cutting interest rates this year and the possibility of the US Government continuing to close for a long time are boosting investment demand for precious metals.

According to Bloomberg, holdings of gold ETFs continued to increase strongly last week, with individual investor purchases helping the total holding value increase the fastest in more than 3 years. There is currently no sign that the US government shutdown is about to end.

On October 7, Goldman Sachs (one of the world's largest financial and banking groups, headquartered in the US) raised its gold price forecast for December 2026 from 4,300 USD/ounce to 4,900 USD/ounce, citing strong capital flows into ETF funds in the West and the possibility of central banks continuing to buy gold.

We believe that the risk for this new forecast is still leaning towards an upward trend, as the private sector's portfolio diversification to the gold market - which is already small in scale - could cause ETF holdings to exceed our interest rate estimates, Goldman said.

Mr. Ole Hansen - Commodity Strategy Director of Saxo Bank - commented: " Strong demand from ETFs is still a key factor, driven by the fear of missing out (FOMO) mentality and declining confidence in traditional Shelters".

Mr. Michael Langford - Investment Director of scorpion Minerals - predicted: "I think gold could reach 4,300 USD/ounce in the next 6 months, as the USD continues to weaken and the macro and geopolitical context is favorable for gold prices to increase".

Technically, December gold buyers are holding a strong advantage in the short term. The next upside target is to close above the strong resistance zone of 4,000 USD/ounce, while the sellers aim to pull the price down below the strong support of 3,750 USD/ounce.

The most recent resistance level was at a record peak of $4,00010/ounce, then $4,025. Upcoming support is at an overnight low of $3,963.4 an ounce, followed by $3,950 an ounce.