Gold price update morning of March 8th: Confidence drops

Khương Duy |

Gold price update morning of March 8: Most Wall Street experts still predict positively about gold prices next week, but confidence has decreased compared to the previous week.

SJC gold bar price

As of 6:00 AM, SJC gold bar prices were listed by DOJI Group at 182-185 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Diễn biến giá vàng SJC những phiên giao dịch gần đây. Biểu đồ: Khương Duy
SJC gold price movements in recent trading sessions. Chart: Khuong Duy

SJC gold bar price was listed by Bao Tin Minh Chau at 182-185 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 181-183.8 million VND/tael (buying - selling), 182.2-185 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both directions. The difference between buying and selling prices is at 2.8 million VND/tael.

Giá vàng miếng SJC tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
SJC gold bar price at some business units. Unit: VND/tael. Table: Khuong Duy

9999 gold ring price

As of 6:00 AM, DOJI Group listed the price of gold rings at 182-185 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Diễn biến giá vàng nhẫn những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Gold ring price movements in recent trading sessions. Chart: Khuong Duy

Bao Tin Minh Chau listed the price of gold rings at 182-185 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 182-185 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.

Giá vàng nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
Price of plain gold rings at some business units. Unit: VND/tael. Table: Khuong Duy

World gold price

At 6:00 AM, world gold prices were listed around the threshold of 5,172 USD/ounce. Compared to the previous day, world gold prices increased by 32.4 USD.

Diễn biến giá vàng thế giới những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Developments in world gold prices in recent trading sessions. Chart: Khuong Duy

Gold price forecast

After a strong increase at the end of the week, many organizations and experts believe that the short-term trend of gold prices is still volatile, as the market is waiting for new signals from the US economy and the monetary policy of the US Federal Reserve (Fed).

Kitco's latest weekly gold survey shows that Wall Street experts do not have a clear consensus on the outlook for precious metal prices. Among the 18 analysts participating in the survey, 9 people (50%) predict that gold prices may continue to increase next week. Conversely, 4 experts (22%) believe that precious metals are likely to adjust down, while the remaining 5 people (28%) believe that the market may move sideways as risk increases and decreases are quite balanced.

In the group of individual investors, optimistic sentiment still prevailed. An online survey of 340 small traders showed that 62% of participants expected gold prices to continue to rise next week. Meanwhile, 16% believed that prices could fall and 22% predicted that gold would fluctuate in a narrow range.

The developments of gold prices next week are forecast to be greatly affected by a series of important US economic data. The market will pay special attention to the consumer price index (CPI) report, the number of unemployment claims, housing data and indicators related to economic growth. This information is considered an important basis for assessing the Fed's interest rate outlook in the coming time.

Previously, gold prices had increased sharply in the last trading session of the week when many US economic data sent out negative signals. The newly released report showed that US retail sales in January fell 0.2%, reflecting a weakening of consumer spending. At the same time, the labor market also disappointed when the economy lost 92,000 jobs in February, completely contrary to previous job growth expectations.

According to Mr. Jeffrey Roach - chief economist of LPL Financial, the US labor market is showing signs of slowing down after a period of weak growth in 2025. He believes that if economic data continues to worsen, the Fed may have to consider easing monetary policy sooner to support the economy.

In the context of interest rate prospects that may decrease and the US economy signaling slowdown, many experts believe that gold still has the opportunity to maintain its role as a safe haven channel, thereby continuing to receive investor interest in the coming time.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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