In the announcement just issued by the State Bank, the next SJC gold bar auction will take place at 9:30 a.m. on Tuesday, May 21 at the State Bank.

The reference price used to calculate the deposit price is 88.6 million VND/tael. Registered bidders will have to deposit 10% of the bid value.

This auction session still maintains the same volume of gold bars offered as usual, 16,800 taels. The State Bank continues to maintain the minimum and maximum volume of the two recent successful auctions, 5 lots (500 taels) and 40 lots (4,000 taels) respectively.

Each bidder may only register a minimum price equal to or higher than the reference price.

Previously, the most recent auction took place on May 16, the amount of SJC gold bars won the bid reached a record 12,300 taels, with 11 members participating in the auction. The highest successful bid was 88.92 million VND/tael and the lowest successful bid was 88.89 million VND/tael.

From April 19 to now, the State Bank has organized 7 auctions to sell SJC gold bars with a total winning volume of 27,200 taels (equivalent to about 1.02 tons).

This week, the State Bank will continue to organize two gold auctions on May 21 and 23.

At the end of last week, the State Bank of Vietnam announced an inspection of compliance with policies and laws in gold trading activities from January 1, 2020 to May 15, 2024. The inspection team also included representatives of the Government Inspectorate and the Ministry of Public Security.

Regarding today's gold price movements, in the early afternoon of May 20, the price of SJC 9999 gold increased sharply by up to a million VND/tael compared to the session at the end of last week in both directions, up to 88.9-90.9 million VND/tael (buy - sell).

Gold price today May 20, 2024: SJC increased by more than 1 million, up to nearly 91 million VND/tael

Gold price today May 20, 2024: SJC increased by more than 1 million, up to nearly 91 million VND/tael

Today's gold price, May 20, 2024, domestic SJC gold bars increased by 1.2 million VND for buying, and increased by 500,000 VND for selling to 90.9 million VND/tael (selling). World gold prices increased vertically, at times approaching 2,450 USD/ounce.