Supplying the market with 48,400 taels of SJC gold bars

Accordingly, at the auction of 16,800 SJC gold bars on the morning of May 23, 11 banks and businesses bought 13,400 taels, accounting for nearly 80% of the bid size, at a price of VND88.72 - 88.73 million per tael.

This is the most successful auction of the State Bank in the past month when it sold almost all the offered gold: 13,400 taels of SJC gold/16,800 taels of SJC gold.

Thus, through 9 calls for bids, of which 6 were successful, the State Bank has supplied the market with 48,400 taels of SJC gold bars. After the gold bar auctions did not meet expectations, the State Bank has loosened the conditions on the minimum and maximum bid size.

This adjustment has helped recent sessions increase the number of participating members and the scale of gold supplied to the market. As a result, the amount of SJC gold bars supplied to the market has increased, increasing supply to cool down domestic gold bar prices and "pull" them closer to world gold bar prices.

Source: https://baoquangnam.vn/cung-ung-ra-thi-truong-48-400-luong-vang-mieng-sjc-3135237.html