SBV gold auction sells out on Friday

Friday, Oct 11, 2013 16:29

SBV, the only gold importer in Viet Nam

HA NOI (Biz Hub) — The State Bank of Viet Nam sold all 15,000 taels of gold offered in the 64th auction to 11 credit institutions at VND37.28-37.29 million (US$1,775-1,775.7) per tael on Friday.

Gold prices declined slightly by VND60,000 (nearly $3) per tael on local markets when the Saigon Jewellery Company (SJC) posted a rate of VND37.25-37.35 million ($1,773-1,778) on its website at 3pm, while the trading floor listed the price at $1,289 per ounce, or $1,564 per tael, leaving prices in Viet Nam $214 per tael higher than global rates.

Since March 28, SBV, the only gold importer in Viet Nam, has sold about 1.65 million taels of gold at its auctions.— VNS

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