Successfully bid for 7,900 taels of SJC gold bars

Illustration photo.

The State Bank of Vietnam has just announced the results of today's gold bar auction (May 21). Accordingly, the number of winning bidders was 9, the total winning volume was 79 lots, equivalent to 7,900 taels of gold.

The highest winning bid price was 89.42 million VND/tael; the lowest winning bid price was 89.42 million VND/tael.

Thus, this is the 5th successful gold auction out of 8 times the State Bank of Vietnam has offered bids. In the previous auction, on May 16, the highest winning bid volume was 123 lots, equivalent to 12,300 taels of gold.

In total, from April 19 to now, the amount of gold won in the bid has reached 35,100 taels of gold. Previously, the State Bank of Vietnam said that the amount of gold purchased from the State Bank of Vietnam was then immediately sold by the enterprise to the market.

After a series of consecutive successful gold auctions with a sharp increase in winning bids, SJC gold bars have somewhat narrowed the gap with world prices. Currently, SJC gold prices at SJC Company are listed at VND88.50-90.50 million/tael for buying and selling, down VND500,000/tael in both directions compared to the previous trading session. Compared to the world, SJC gold is about VND15.5 million/tael higher, lower than the VND19 million/tael level about 10 days ago.

Also according to the State Bank of Vietnam, to stabilize the domestic gold market, in addition to increasing the supply to the market through gold auctions of the State Bank of Vietnam, this agency has proactively sent documents to the Ministries of Public Security, Industry and Trade, and Finance to implement the work of grasping the situation, inspecting, checking, supervising, etc. according to the assigned functions, tasks, and powers; strictly handling violations of the law such as smuggling gold across the border, profiteering, speculation, manipulation, taking advantage of the policy of hoarding goods to push up prices by related organizations and individuals, causing instability and insecurity in the gold market.

Notably, recently, the State Bank of Vietnam issued Decision No. 324/QD-TTGSNH2 to inspect the compliance with policies and laws in gold trading activities of credit institutions and enterprises operating in gold trading.

Source