State Bank continues to auction SJC gold bars, reference deposit price drops to 87.5 million VND/tael

The total volume of gold bars expected to be auctioned remains unchanged compared to previous auctions at 16,800 taels of SJC gold.

The gold bar weight of a transaction lot is 100 taels.

The reference price for calculating the deposit price is 87.5 million VND/tael. This price is only for deposit calculation. Bidding members will have to pay an advance of 10% of the bidding value.

Thus, this reference price was lower than the lowest successful bid price (VND87.72 million/tael) of the previous auction. Before the auction on May 14, the State Bank announced the reference price for calculating the deposit price was VND88 million/tael. However, right before the auction, the State Bank decided to lower the reference price to VND87.7 million/tael.

The minimum bidding volume each member is allowed to bid in the next session is still 5 lots (equivalent to 500 taels).

The maximum bidding volume each member is allowed to bid is 40 lots (equivalent to 4,000 taels).

Bid price step is 10,000 VND/tael, bid volume step is 1 lot (100 taels).

Previously, on May 14, the State Bank successfully bid for 8,100 taels of SJC gold bars to 8 winning bidders, with the highest winning bid price being VND87.73 million/tael and the lowest winning bid price being VND87.72 million/tael.

After 3 successful auctions, the State Bank has supplied the market with 14,900 taels of SJC gold bars.

Regarding gold price developments, at 10:29 a.m. on May 15, the price of SJC 9999 gold increased by 200,000 VND/tael in both buying and selling prices, to 90 million VND/tael (selling).

TB (according to Vietnamnet)

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