Central bank successfully auctions 3,400 taels of gold bars

The State Bank of Vietnam (SBV) announced the result of its gold auction on May 8, with three winning bidders securing 34 lots.


The only winning bid price is VND86.05 million (US$3,383 per tael), which is VND750,000 per tael higher than the reference price.

As a result, a total of 3,400 taels of SJC-branded gold bars have been successfully sold out of the total 16,800 taels auctioned by the central bank.

This is the second successful auction out of a total of five auctions, while the other three were postponed due to insufficient registered bidders. The total amount of gold successfully auctioned after these two sessions is 6,800 taels.

In the previous successful auction on April 23, there were two winning bidders with a total volume of 34 lots. The highest winning bid price was VND82.33 million per tael and the lowest winning bid price was VND81.32 million.

On the market, SJC gold prices rebounded from early trade. At 2:20 pm, Saigon Jewelry Company Limited (SJC) quoted gold prices at VND85.2 million per tael for sellers and VND87.5 million per tael for buyers.

The domestic gold price set a new record high at VND87.5 million per tael on May 7, up 18.2 percent from the end of last month.

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