Some 158,200 taels of gold bullion (roughly six tonnes) were sold in six auctions held by the State Bank of Vietnam (SBV).

In the latest auction on April 12, the bank sold 40,000 of the 52,000 taels put out for sale at prices ranging from 42.97 million VND and 42.98 million VND per tael.

Despite the amount of gold supplied to the market, the domestic gold price is still higher than the international market price, by 3.5 million VND (160 USD) per tael. One tael is approximately 1.2 ounces or 37.5 grammes.

The SBV is scheduled to hold three more auctions next week.-VNA