On the morning of May 21st, the State Bank of Vietnam announced the successful auction of 79 lots equivalent to 7,900 taels of gold, with a total of 9 winning bidders. The winning bid price was 89.42 million VND per tael.
Previously, on May 20th, the State Bank of Vietnam announced that it would hold a tender for the total volume. The total amount of gold bars is 16,800 taels. The reference price for calculating the deposit value is 88.6 million VND/tael. The volume of one lot is 100 taels.
In this auction, the State Bank of Vietnam stated that the minimum bidding volume is 5 lots, equivalent to 500 taels. In addition, the maximum bidding volume a member is allowed to bid on is 40 lots (4,000 taels).
According to the State Bank of Vietnam, the auction of gold bars is aimed at intervening promptly and immediately addressing the situation. The significant difference between domestic and international gold prices ensures that the gold market operates stably, healthily, openly, transparently, and efficiently, in accordance with the Prime Minister's directives.
In recent times, following the directives of the Government and the Prime Minister , the State Bank of Vietnam has implemented numerous measures to stabilize the gold market through gold bullion auctions aimed at increasing supply. Accordingly, the State Bank of Vietnam widely publicizes information related to gold bullion auctions and their results on its official website.
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