HANOI, May 21 (Xinhua) -- The State Bank of Vietnam has announced it has successfully organized five gold auctions since April 19 with a total of 35,100 taels of gold bullions sold.
In the latest auction on Tuesday, nine winning bidders of Saigon Jewelry Company (SJC)-branded gold bar secured 79 lots, equivalent to 7,900 taels, Vietnam News Agency reported.
The central bank said that the highest and lowest winning bid price in this gold auction was the same, 89.42 million Vietnamese dong per tael (3,511 U.S. dollars).
On the domestic market, the SJC gold prices on Tuesday afternoon was quoted at 88.5 million dong (3,475 dollars) per tael for sellers, and 90.5 million dong (3,554 dollars) per tael for buyers.
According to the bank, the purpose of the gold bullion auction is to intervene in a timely manner to reduce the gap between domestic and global gold prices. This is aimed at ensuring the gold market operates in a stable, healthy, transparent and efficient manner. ■
