SBV gold auctions hit 50 tonnes

tohang

The State Bank of Viet Nam (SBV) sold 26,000 taels or one tonne of gold to 17 credit institutions at its 48th auction today.

 

SBV has already sold nearly 50 tonnes of gold in the last four months.

HA NOI (Biz Hub) — The State Bank of Viet Nam (SBV) sold 26,000 taels or one tonne of gold to 17 credit institutions at its 48th auction today.

The bank set a reserve price of VND 37.95 million ($1,807) per tael. After the bidding, the winning prices ranged from 38.00-38.08 million ($1,809-1,813) per tael.

In the local market, prices dropped slightly this morning. Gold from the Saigon Jewellery Company (SJC) was listed at between 37.72-38.12 million ($1,786-1,815) on its official website after the auction at 2pm today.

On the kitco.com trading floor, the selling price for gold also declined to $1,325 per ounce ($1,596 a tael), leaving gold prices in Viet Nam $219 per tael higher than global prices.

The SBV has held 48 gold auctions since March 28, selling more than 1.29 million taels (or nearly 50 tonnes). — VNS

 

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