Business

Eight bidders win May 14 gold auction

Eight bidders bought a total of 8,100 taels of SJC-branded gold bullion out of the 16,800 that the State Bank of Vietnam (SBV) offered for sale at the auction held on May 14 morning.

The auction aims at ensuring stable, transparent and effective operation of the domestic gold market. (Photo: VNA)
The auction aims at ensuring stable, transparent and effective operation of the domestic gold market. (Photo: VNA)

Hanoi (VNA) – Eight bidders bought a total of 8,100 taels of SJC-branded gold bullion out of the 16,800 that the State Bank of Vietnam (SBV) offered for sale at the auction held on May 14 morning.

The central bank said that the highest winning price was 87.73 million VND (over 3,400 USD) and the lowest, 87.72 million VND per tael.

Earlier, it announced the fifth auction of SJC gold bullions, with bidding condition changes compared to the latest session.

Each bid requires a 10% deposit on the total order, with the reference price for calculating the deposit value being 88 million VND per tael.

The minimum bidding volume of the auction was five lots, equivalent to 500 taels, down by 200 taels compared to the most recent session on May 8. In addition, the maximum bidding volume per member was allowed to increase significantly from 20 to 40 lots.

Each bidding member was only permitted to register one minimum price equal to or higher than the floor price announced by the central bank.

According to the central bank, the auction aims at ensuring stable, transparent and effective operation of the domestic gold market. It has warned locals to stay prudent when trading gold amidst the world’s volatile market./.

VNA
#bidders #gold auction #SJC-branded gold #reference price #bidding volume #world's volatile market
Follow VietnamPlus

Post-pandemic recovery

Related News

Domestic gold prices have surged, even topping 90 million VND (over 3,500 USD) per tael. (Photo: tapchicongthuong.vn)

Government urged to narrow domestic, global gold price gap

Permanent Vice Chairman of the National Assembly (NA) Tran Thanh Man on May 13 voiced concern over skyrocketing gold prices, asking the Government to quickly review market management measures to narrow the wide gap between domestic and global prices.

See more

Vice Chairman of the Dong Nai provincial People's Committee Duong Minh Dung replies to FDI enterprises' concerns at the meeting. (Photo: VNA)

Dong Nai holds dialogue with FDI enterprises to ease difficulties

At the event, businesses raised concerns related to value-added tax refunds, increased land rental costs, reduced LNG supply, labour shortages, the issuance of construction ownership certificates, and environmental hygiene and traffic safety on roads within industrial zones.

President of the Vietnam-Canada Business Association (VCBA) Eastern Chapter Chung Vinh. (Photo: VNA)

Vietnam-Canada Business Association expands operation

The establishment of the Eastern Chapter not only marks a significant step in the Vietnam-Canada Business Association's growth but also addresses the rising demand for networking and collaboration among Vietnamese and Canadian entrepreneurs in the region.

An overview of the discussion on developing financial centres in Vietnam. (Photo: VNA)

Int’l financial centre ensures Vietnam’s sustainable financial growth: Experts

Financial experts expressed their willingness to share knowledge, expertise, and support Vietnam’s access to vital capital, while as assisting Vietnam in training and recruitment of highly skilled financial professionals to ensure the swift and effective development of the financial centres. Additionally, they committed to connecting Vietnamese businesses with German and international investors.

A port in California of the US (Photo: Xinhua/VNA)

Vietnam attends WTO session on removing technical barriers to trade

The Vietnamese delegation is closely tracking all Specific Trade Concerns, with a keen interest on rules impacting Vietnam’s key and potential exports at the regular session of the World Trade Organisation (WTO) Committee on Technical Barriers to Trade (TBT Committee) in Geneva, Switzerland from March 25-28.

The ICON e: (Photo: Honda Vietnam)

Honda Vietnam rolls out first domestically produced electric scooter

The ICON e: is specifically designed for high school students, a young and dynamic demographic seeking safe and convenient mobility. The scooter comes equipped with advanced safety features, including a fire- and water-resistant lithium-ion battery, a combined braking system (CBS), LED lighting for enhanced visibility, and a spacious storage compartment. It is expected to launch in the Vietnamese market in April.

A buyer searches for food products at the fair. (Photo: VNA)

Third Vietnam Outstanding Export Products Fair opens in HCM City

It features nearly 750 booths showcasing a wide range of goods and services like agricultural products, foods and seafood, handicrafts, souvenirs, regionally distinctive goods, textiles, footwear, supporting industries, and food processing, packaging, and preserving technologies.