SBV gold auction sells out on Friday

tohang

The State Bank of Viet Nam sold all 15,000 taels of gold offered in the 64th auction to 11 credit institutions at VND37.28-37.29 million (US$1,775-1,775.7) per tael on Friday.

SBV, the only gold importer in Viet Nam

HA NOI (Biz Hub) — The State Bank of Viet Nam sold all 15,000 taels of gold offered in the 64th auction to 11 credit institutions at VND37.28-37.29 million (US$1,775-1,775.7) per tael on Friday.

Gold prices declined slightly by VND60,000 (nearly $3) per tael on local markets when the Saigon Jewellery Company (SJC) posted a rate of VND37.25-37.35 million ($1,773-1,778) on its website at 3pm, while the kitco.com trading floor listed the price at $1,289 per ounce, or $1,564 per tael, leaving prices in Viet Nam $214 per tael higher than global rates.

Since March 28, SBV, the only gold importer in Viet Nam, has sold about 1.65 million taels of gold at its auctions.— VNS

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