SBV gold auction fails to lots

tohang

The State Bank of Viet Nam only sold 11,300 taels out of the 15,000 taels of gold on offer at its 67th auction today.

There are 3,700 taels of gold left unsold in the SBV's 67th auction.— Photo Soha.vn
HA NOI (Biz Hub) — The State Bank of Viet Nam only sold 11,300 taels out of the 15,000 taels of gold on offer at its 67th auction today.

Gold was sold to 10 credit institutions at VND37.30-37.32 million (US$1,776-1,777) per tael.

The unsold 3,700 taels is the largest amount since the SBV held its first auction in March. The central bank, the only institution licensed to import gold, has sold more than 1.681.5 million taels so far.

Gold prices stayed flat in the local market on Friday, with the Saigon Jewellery Company (SJC) posting a rate of VND37.18-37.38 million ($1,770-1,780) on its website at 3pm, while the kitco.com trading floor listed the price at $1,343.1 per ounce, or $1,618 per tael, leaving prices in Viet Nam $162 per tael higher than global rates.— VNS

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