12,300 taels of SJC-branded gold bullion sold through auction
Eleven bidders bought a total of 12,300 taels of SJC-branded gold bullion that the State Bank of Vietnam (SBV) had put on sale at an auction held on May 16.
The central bank said that the highest winning price was VND88.92 million and the lowest was VND88.89 million per tael.
The total volume of gold bullion on offer at the auction was 12,300 taels, the highest figure so far, with 11 winning bidders securing 123 lots.
This marks the fourth successful auction out of a total of seven auctions, while the other three were postponed due to insufficient registered bidders.
The total amount of gold successfully auctioned after these four sessions stands at 27,200 taels.
In terms of the domestic market, gold prices showed a slight increase. In the afternoon of May 16, Bao Tin Minh Chau Company quoted gold bar prices at VND87.55 million per tael for buyers and VND89.5 million per tael for sellers, with the prices of gold rings reaching VND75.93 million and VND77.33 million per tael for buying and selling.
The price of gold on the world market on May 16 was traded at US$2,393.36 per ounce, up US$10 per ounce compared to the previous trading session.
