Two bidders win the first gold auction this year

Tuesday, Apr 23, 2024 14:45

Participants attend the gold bullion auction on Tuesday morning at the headquarters of the SBV. — VNA/VNS Photo

The State Bank of Việt Nam (SBV) released the outcome of the gold bullion auction on Tuesday, with two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC-branded gold bars.

The two successful participants are Saigon Jewelry Company Limited (SJC) and Asia Commercial Joint Stock Bank (ACB).

3,400 taels were sold out of the total bid volume of 16,800 taels. The highest winning bid reached VNĐ81.33 million per tael (US$3,195), while the lowest winning bid price was VNĐ81.32 million per tael.

As a result, the winning bid price exceeded the SBV's starting price by VNĐ620,000 - 630,000 per tael.

The winning bidders are required to make payments to the SBV before 4pm today.

Seven banks and four enterprises on Tuesday morning took part in the first gold bullion auction of 2024, which organised by the central bank in Hà Nội.

This is seen as a decisive measure to boost the gold supply in the market.

The SBV had previously issued extensive notifications to qualified credit institutions and businesses, allowing them to register for auction participation and make deposits on April 22.

However, the auction was postponed on April 22 due to insufficient registered bidders and shortages of deposits transferred in accordance with regulations.

On the domestic market, gold prices fell by about VNĐ1 million per tael from the previous session.

At 1pm (local time), SJC gold prices were quoted at VNĐ80 million for sellers and VNĐ82.5 million for buyers, down VNĐ1 million per tael.

Meanwhile, PNJ gold prices dropped VNĐ900,000 per tael from Monday's session to VNĐ79.8 million per tael for sellers and VNĐ82.3 million for buyers. — VNS

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