12,300 taels of SJC gold released to the market on May 16

Thursday, May 16, 2024 15:32

After four successful auction events, the monetary authority had released 27,200 taels of SJC gold to the market. — Photo vietnamplus.vn

In the gold auction on Thursday morning, 12,300 taels (equivalent to 123 lots) of SJC-brand gold bullion were successfully sold out of 16,800 put up for sale, said the State Bank of Vietnam (SBV).

This is the highest volume of gold that was successfully bid across the four completed auction sessions.

There were 11 bidders taking part in the seventh auction.

The highest winning bid price was VNĐ88.92 million per tael (US$3,495), which was VNĐ1.42 million per tael higher than the reference price announced earlier by the monetary authorities. The lowest winning bid price was VNĐ88.89 million per tael.

The reference price set by the authorities for Thursday's auction to calculate the deposit amount was VNĐ87.5 million per tael.

Previously, the central bank had announced six SJC gold bullion auction schedules - on April 22, April 23, April 25, May 3, May 8 and May 14. Each of these auctions offered 16,800 taels of SJC gold bullion.

However, only three of these, on April 23, May 8 and May 14, had successful bidders. The remaining auction rounds were all cancelled due to an insufficient number of bid submissions.

In total, through these four successful auction events, the monetary authorities had released 27,200 taels of SJC gold to the market.

Currently, SJC gold prices are listed at VNĐ87.5 million per tael to sellers and VNĐ90 million per tael for sellers. SJC gold price hit a record at VNĐ92.4 million per tael on May 10. — VNS

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