Accordingly, the highest winning bid price is 81.33 million VND/tael, the lowest winning bid price is 81.32 million VND/tael.
The State Bank said that this gold bar auction is aimed at timely intervention and handling the situation of high difference between domestic and world gold bar prices, ensuring the gold market operates stably, healthily, openly, transparently and effectively, in accordance with the Prime Minister's direction.
The total volume of gold bars put up for auction is 16,800 taels. The volume of gold bars in a transaction lot is 100 taels/lot. The type of gold bars sold is SJC gold bars produced by the State Bank.
Previously, on April 2, the State Bank announced the auction of 16,800 taels of gold bars to credit institutions and enterprises participating in the gold auction. Credit institutions and enterprises participating in the auction must meet all conditions as prescribed by the State Bank. The auction will take place at 9:00 a.m. on April 23 at the State Foreign Exchange Reserve Management Department ( Hanoi ). The location for gold delivery and receipt is at the Issuance and Treasury Department - State Bank, in Ho Chi Minh City.
Thus, after 11 years, the State Bank returned to organizing gold bar auctions. The first gold bar auction was held on March 28, 2013. In 2013, the State Bank organized 76 gold bar auctions with a total winning volume of 1,819,900 taels out of a total of 1,932,000 taels offered for bid. At that time, the price of SJC gold was still about 4.2 million VND/tael more expensive than world gold.
Speaking to the press, Mr. Nguyen Minh Tuan - CEO of AFA Capital - said that the gold auction returned after 11 years facing many differences in the domestic and world economic situations that have changed a lot. In 2013, the gold auction took place when the world gold price tended to decrease, and in 2024, the domestic and world gold prices continued to escalate. In addition, the gap between domestic and world gold prices has also widened much more than 11 years ago, at about 14 million VND/tael.
According to economic experts, gold auction is one of the necessary measures to create the fastest supply for SJC gold bars and to cool down the current gold price "fever".
In addition, coordinate with the State Bank in organizing SJC gold bar bidding activities to ensure safe and effective bidding activities.
The State Bank also requested the Ministry of Industry and Trade to direct functional units to strengthen market management; promptly detect acts with signs of violations and provide information to competent authorities for strict handling in accordance with the law.
The State Bank has directed credit institutions and enterprises licensed to buy and sell gold bars to strictly implement relevant legal regulations and the Prime Minister's instructions to ensure the gold market operates safely, effectively, and in accordance with the law, without profiteering, speculation, manipulation, or price hikes.
In particular, strictly implement the invoice and document regime as prescribed by the Ministry of Finance; apply electronic invoices in gold buying and selling transactions to enhance publicity and transparency in gold buying and selling activities, especially buying and selling gold bars.
For the State Bank branches in provinces and centrally run cities, the State Bank requests urgent coordination with local authorities (Market Management Department, Department of Science and Technology, Police, etc.) to strengthen supervision, inspection and examination of gold trading activities of units; handle violations of gold trading activities according to authority (if any).
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