The State Bank of Vietnam canceled the gold auction for the third time.

According to the previous announcement, at the gold auction this morning, May 3, the State Bank bid for 16,800 taels of SJC gold bars at the price. The volume of gold bars in a transaction lot is 100 taels. The deposit rate is 10%. The reference price for calculating the deposit price is 82.90 million VND/tael.

However, only 1 unit submitted a bid, so this morning's bidding session was canceled again.

Thus, out of the 4 times the State Bank called for bids, 3 failed due to insufficient number of businesses voting. The only successful auction was on April 23, when only 20% of the gold offered for bid was sold to two units.

Source: https://baoquangnam.vn/lan-thu-3-ngan-hang-nha-nuoc-viet-nam-huy-dau-thau-vang-3133983.html