Local gold price stays flat in the 65th auction

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The State Bank of Viet Nam sold 14,500 of 15,000 taels of gold to 15 credit institutions at a cost of VND37.15-37.18 million (US$1,769-1,770) per tael at its 65th auction on Wednesday.

Local gold price remains over US$200 per tael higher than the global rates.— Photo tigiavang.net

HA NOI (Biz Hub) — The State Bank of Viet Nam sold 14,500 of 15,000 taels of gold to 15 credit institutions at a cost of VND37.15-37.18 million (US$1,769-1,770) per tael at its 65th auction on Wednesday.

Gold prices did not change much from Tuesday when the Saigon Jewellery Company (SJC) posted a rate of VND37.13-37.23 million ($1,768-1,772) on its website at 3pm, while the kitco.com trading floor listed the price at $1,281.8 per ounce or $1,544 per tael, leaving prices in Viet Nam $228 per tael higher than global rates.

Since March 28, SBV, the only gold importer in Viet Nam, has sold more than 1.655 million taels of gold at its auctions.— VNS


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