In order to continue effectively implementing the directions of the Government and the Prime Minister on handling the high difference between domestic SJC gold bar prices and world prices, the State Bank will adjust the plan to stabilize the gold market.

Accordingly, the State Bank of Vietnam will stop auctioning gold bars and will implement an alternative stabilization plan as soon as possible, expected to start from June 3.

Thus, after 9 auctions of SJC gold bars since April 22, the operator decided to stop these activities.

Through 9 auctions held, 6 auctions were successful with a total winning volume of 48,500 taels (485 lots), equivalent to more than 1.8 tons of gold purchased by bidding members (including gold trading companies and credit institutions), and then supplied to the market.

Currently, the State Bank has not announced the next gold market stabilization measure to replace the gold auction activity.

Regarding the gold price movement today, May 27, at 3:34 p.m. on May 27, the selling price of SJC 9999 gold was at 89.9 million VND/tael.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 13:57 and the price of 9999 gold was listed by Doji Jewelry Group at 15:56 as follows:

SJC buys at 87.9 million VND/tael, sells at 89.9 million VND/tael; Doji buys at 87.7 million VND/tael, sells at 89.3 million VND/tael.