SBV releases more gold into market

The State Bank of Vietnam (SBV) resumed auction of gold after a pause of two weeks, selling 19,900 taels out of 20,000 taels of gold at the 58th gold auction on September 12 with highest bid at VND38 million per tael, and lowest bid at VND37.94 million per tael.

Since March 28, the State Bank has held 58 gold auctions and sold 1,537,100 taels of gold, more than 59.1 metric tons of gold out of 1,642,000 taels that were put up for auction.

After the 58th gold auction, the price of SJC-brand gold dropped to VND37.4 million per tael for buying, and VND37.65 million per tael for selling as of 8.30am on September 13.

By Song Nguyen – Translated by Thuy Doan

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