SBV sells the majority of gold offered at its 69th auction

Friday, Nov 08, 2013 17:50

Gold prices go down in the local market at VND 36.59-36.69 million (US$1,742-1,747) per tael.— Photo

HA NOI (Biz Hub) — Eleven credit institutions bought 14,800 taels, of the 15,000 offered by the State Bank of Viet Nam, at VND36.63-36.67 million ($1,744-1,746) each, during the 69th auction on Friday.

The local market price of gold slid VND110,000 ($5) per tael. Saigon Jewellery Company (SJC) posted gold prices between VND36.59-36.69 million ($1,742-1,747) on its website, while the trading floor was selling at $1,310 per ounce, or $1,578 per tael. Prices in Viet Nam remained $169 higher per tael than global rates.

The bank has sold over 1.711 million taels of gold since its first auction in March.— VNS

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