The State Bank of Vietnam (SBV) said it made a profit of more than 6 trillion VND (272.72 million USD) from 75 gold auctions.
According to the SBV data, a total of 1,517,200 taels were sold out of the 1,622, 000 on offer since March 28.
The profits will go towards the State budget to reinvest in the economy and to fund social welfare projects.
The central bank was able to profit from the auction because the domestic global price. It is also the sole producer and importer of gold in Vietnam, and employs other favourable policies such as tax exemption on gold imports.
On September 4, gold in the domestic market soared to 38.6 million VND per tael in the early morning and then inched down to 38.5 million VND following global movements.
SJC gold was trading at 38.27 million VND per tael for bid and 38.47 million VND per tael for ask.
Techcombank gold prices were listed at 38.30-38.48 million VND per tael for bid and ask, respectively.
The domestic gold premium on September 4 stood at 3 million VND per tael on the world rice based on Vietcombank’s forex rate of 1 USD=21,180 VND, up from 2.93 million VND per tael on the previous day.-VNA
According to the SBV data, a total of 1,517,200 taels were sold out of the 1,622, 000 on offer since March 28.
The profits will go towards the State budget to reinvest in the economy and to fund social welfare projects.
The central bank was able to profit from the auction because the domestic global price. It is also the sole producer and importer of gold in Vietnam, and employs other favourable policies such as tax exemption on gold imports.
On September 4, gold in the domestic market soared to 38.6 million VND per tael in the early morning and then inched down to 38.5 million VND following global movements.
SJC gold was trading at 38.27 million VND per tael for bid and 38.47 million VND per tael for ask.
Techcombank gold prices were listed at 38.30-38.48 million VND per tael for bid and ask, respectively.
The domestic gold premium on September 4 stood at 3 million VND per tael on the world rice based on Vietcombank’s forex rate of 1 USD=21,180 VND, up from 2.93 million VND per tael on the previous day.-VNA
