On October 8 2025 (Asia time), the precious-metals market witnessed history: spot gold topped $4,000 per ounce for the first time ever.
Reuters reported that spot gold rose about 0.9% to around $4,017/oz, while December futures had already broken the $4,000 barrier a day earlier and continued climbing during the October 8 session.

According to The Financial Times, gold hit $4,019/oz, up roughly 50% so far in 2025 — a record-setting rally.

AP News likewise confirmed that gold futures rose above $4,000 per ounce as investors rushed for safety amid a U.S. government shutdown.

In Vietnam, the surge was felt immediately: SJC gold bars were quoted at ₫139.4 – ₫141.4 million per tael on the morning of October 8 — a domestic record. Local outlets reported that global spot gold hovered around $4,000, widening the gap between domestic and international prices.

Why did gold skyrocket?

Safe-haven demand amid global uncertainty

The breakout came just as market sentiment deteriorated worldwide. A U.S. federal shutdown and political instability in France and Japan sparked a flight to safety. During this “risk-off” mood, investors poured money into gold, the classic defensive asset. Asian equities slipped, and headlines like “Gold cracks $4,000” dominated financial news.

Rate-cut expectations from the Fed

Another tailwind came from anticipation of Federal Reserve rate cuts in 2025. Lower rates reduce the opportunity cost of holding a non-yielding asset like gold, boosting demand. Both Reuters and FT highlighted that rate-cut bets and safe-haven flows are driving the rally.

Institutional and ETF inflows

FT also pointed to central-bank buying and renewed inflows into gold ETFs as structural supports. Many central banks are diversifying reserves away from the U.S. dollar — a trend that has helped extend the multi-year bull market.

The mechanics behind the surge: psychology and the spot–futures gap

“Round-number” levels like $4,000 carry huge psychological weight. Once breached, they trigger a cascade of automated orders momentum buys and stop-loss covering from short positions. That’s why futures usually break out first, pulling expectations toward the spot market.

Intraday highs can differ from closing prices, and the volatile range means late buyers risk “buying the top.” Disciplined position-sizing and clear stop-losses are essential in such sessions.

Vietnam’s reaction: domestic heat rises fast

Vietnamese gold prices mirrored the global frenzy. At around 9 a.m., global spot traded near $4,000, confirming the upward momentum.
By 8:49 a.m., VietnamNet quoted spot ≈ $3,995/oz and SJC ₫141.4 million, showing how the domestic market often lags and amplifies world moves.

Because of supply constraints and brand premiums, Vietnam’s physical gold rarely tracks global prices perfectly. High spreads and low liquidity make short-term trading risky during price spike.

The risks ahead: not a straight line up

Even with supportive fundamentals, no trend lasts forever. Analysts warn that after major breakouts, gold often tests lower levels before stabilizing.

• Technical pullback possible: The $3,900 area is viewed as initial support for a re-test after the breakout a technical reference, not a prediction.

• Policy risk: If the Fed cuts less than expected or the U.S. shutdown resolves quickly, safe-haven demand could fade, trimming gains.

• Crowded positions: As “Gold $4,000” dominates headlines, speculative longs have swelled, raising the chance of stop-loss sweeps and sharp intraday swings.

Practical takeaways for investors ( not investment advice )

For long-term investors, a measured allocation to gold remains a valid hedge as monetary easing looms in 2025. However, don’t “go all in” on headlines.

Short-term traders should focus on daily closes, not intraday spikes: multiple closes above $4,000 signal trend confirmation, while a fall below $3,900 may indicate a correction.

In Vietnam, factor in the wide buy–sell spreads and transaction costs. Where possible, ETF-based or regulated financial gold products offer better liquidity and transparency than physical bars during volatile periods.