The starting price is VND80.7 million (US$3,170) per tael. A tael equals 37.5 grams or 1.2 ounces
Fifteen businesses have been permitted to buy. They need to deposit 10 ercent of their purchase value. Each purchaser is allowed to place orders for at least 1,400 taels and at most 2,000 taels.
Bidders will have 30 minutes to determine the price and volume they want. The winners will be announced one hour after the auction closes.
Prospective buyers need to place their deposit no later than 5:00 pm on the day.
Earlier, the central canceled the auction planned for April 22 as too few businesses registered to bid.
It said it has completed preparation for the bidding to ensure stable, transparent, and effective operation of the domestic market.
The last time the central bank sold gold bars was in 2013 when over 1.8 million taels were offloaded, with a total of 76 auctions.
