Hanoi (VNA) - The State Bank of Vietnam (SBV) announced the result of its gold auction on May 8, with three winning bidders securing 34 lots.
The only winning bid price is 86.05 million VND (3,383 per tael USD), which is 750,000 VND per tael higher than the reference price.
As a result, a total of 3,400 taels of SJC-branded gold bars have been successfully sold out of the total 16,800 taels auctioned by the central bank.
This is the second successful auction out of a total of five auctions, while the other three were postponed due to insufficient registered bidders. The total amount of gold successfully auctioned after these two sessions is 6,800 taels.
In the previous successful auction on April 23, there were two winning bidders with a total volume of 34 lots. The highest winning bid price was 82.33 million VND per tael and the lowest winning bid price was 81.32 million VND.
On the market, SJC gold prices rebounded from early trade. At 14.20pm, Saigon Jewellry Company Limited (SJC) quoted gold prices at 85.2 million VND per tael for sellers and 87.5 million VND per tael for buyers.
The domestic gold price set a new record high at 87.5 million VND per tael on May 7, up 18.2% from the end of last month./.
Gold prices reached a historic peak last week after consecutive auction sessions held by the State Bank of Vietnam (SBV) were met with lukewarm enthusiasm.
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