Successfully bid for 8,100 taels of gold at the price of 87.73 million VND/tael

On May 14, the State Bank announced that it had successfully bid for 81 lots equivalent to 8,100 taels of gold with a total of 8 winning bidders.

Successfully auctioned 8,100 taels of gold at VND87.73 million/tael. Photo: Tran Viet/VNA

Accordingly, the highest winning bid price was 87.73 million VND/tael, the lowest winning bid price was 87.72 million VND/tael.

The State Bank said that the gold bar auction is aimed at timely intervention, immediately handling the situation of high difference in domestic gold bar prices and world gold prices, ensuring the gold market operates stably, healthily, openly, transparently, and effectively, in accordance with the Prime Minister's direction.

Previously, on May 13, the State Bank announced the total expected volume of gold bars to be auctioned at 16,800 taels. The deposit rate is 10%. The reference price to calculate the deposit value is 88 million VND/tael.

Unlike previous auctions, in this auction, the State Bank said the minimum auction volume is 5 lots, equivalent to 500 taels, a decrease of 200 taels compared to the most recent auction (on May 8, the minimum auction volume was 700 taels).

In the market, before the gold bar auction, the price of SJC gold was adjusted down by a million VND/tael, the difference between buying and selling prices was up to 3 million VND. After two days, the gold price increased dramatically and then suddenly decreased after the Government's urgent request for market inspection, each tael of gold decreased by nearly 5 million VND/tael, down to under 90 million VND.

The State Bank said it will continue to organize auctions to sell gold bars to the market with volumes and frequencies appropriate to market demand. At the same time, it recommends that people be cautious when participating in gold transactions to minimize risks in the face of fluctuations in gold prices on the international gold market and the management and control of the gold market in the coming time...

Source: https://baolaocai.vn/dau-thau-thanh-cong-8100-luong-vang-voi-gia-8773-trieu-dongluong-post384050.html