The State Bank (SBV) has just announced the results of the gold bar auction taking place this morning (April 23), at the State Foreign Exchange Reserve Management Department.
As a result, two members won the bid with a total volume of 34 lots, equivalent to 3,400 taels of gold bars.
The highest winning price was 81.33 million VND/tael (630,000 VND higher than the reference price of 80.7 million VND).
The lowest winning bid price is 81.32 million VND/tael (620,000 VND higher than the reference price).
It is known that there were 11 units participating in the gold bar auction this morning, including 7 commercial banks and 4 gold trading enterprises: Doji, SJC, PNJ, and Phu Quy.
The number of gold bars auctioned is 16,800 SJC gold bars, the reference price is 80.7 million VND.
According to regulations, the volume of gold bars in a trading lot is 100 taels. Members are required to deposit 10% of the order value (compared to the reference price).
The minimum bidding volume a member is allowed to bid is 14 lots, equivalent to 1,400 taels. The maximum quantity allowed to bid is 20 lots, equivalent to 2,000 taels. The bidding price is 10,000 VND/tael.
Each bidding member can only register a minimum price equal to or higher than the floor price announced by the State Bank.
Each bidding member can only register a minimum price equal to or higher than the reference price.
This is the first time after 11 years that the State Bank has organized a gold bar auction. In 2013, the State Bank of Vietnam organized 76 auctions to sell gold bars, with a total winning volume of 1,819,900 taels out of a total of 1,932,000 bids.
On the day of the gold bar auction, this morning the price of SJC gold dropped sharply by 1.2 million VND, to 82.3 million VND/tael (sold). Meanwhile, world gold prices continue to evaporate due to a wave of profit-taking sell-offs.
At noon on April 23, SJC’s 9999 gold price reversed and increased by 200,000 VND/tael in both buying and selling directions, reaching 82.5 million VND/tael (selling).
