Gold auction will start on April 22

DNVN - At the press conference on the results of banking activities in the first quarter of 2024, Mr. Dao Xuan Tuan - Director of the Foreign Exchange Management Department, State Bank said that this afternoon, April 19, the State Bank will announce 15 gold enterprises eligible for bidding. Gold bidding will be conducted from April 22.

Mr. Tuan said that, implementing the Prime Minister 's direction, the State Bank has recently made careful preparations for the bidding of SJC gold, gold that the bank has produced and has in stock.

“This afternoon, April 19, the State Bank will announce the gold auction policy to 15 organizations that are qualified to participate in the gold auction and will conduct the gold auction next Monday, April 22,” said Mr. Tuan.

Previously, on April 15, the State Bank announced that it had completed preparations for the gold bar auction to increase the supply of gold to the market. Thus, after 11 years, the State Bank returned to organizing gold bar auctions.

The State Bank has completed preparations for the gold bar auction.

Accordingly, after the floor price is announced, credit institutions and gold trading enterprises begin filling out bids. The above units have 30 minutes to decide on the volume and purchase price. One hour after the bid closes, the State Bank will announce the results. Enterprises will have to deposit to participate in the bidding, no later than 5:00 p.m. on the day of receiving the bid notice.

Currently, there are 26 units, including commercial banks and gold trading enterprises, establishing gold bar trading relationships with the State Bank. Up to this point, there are 15 units qualified to participate in the bidding. The type of gold put up for bidding is SJC gold bars.

The first gold bar auction was held on March 28, 2013. In 2013, the State Bank held 76 gold bar auctions with a total winning volume of 1,819,900 taels out of a total of 1,932,000 taels offered. At that time, the price of SJC gold was still about 4.2 million VND/tael more expensive than world gold.

Ha Anh

Source: https://doanhnghiepvn.vn/kinh-te/se-dau-thau-vang-tu-ngay-22-4/20240419025825413