The State Bank of Vietnam has just announced that it will continue to auction gold bars. The bidding will start at 9:00 AM on May 3, 2024. The bidding method is based on price. The volume of gold bars planned for auction is similar to previous sessions at 16,800 taels. The volume of gold bars in a trading lot is 100 taels.
The reference price for calculating the deposit value is VND 82.9 million/tael. The minimum bid volume that a member is allowed to bid is 14 lots, equivalent to 1,400 taels. The maximum bid volume that a member is allowed to bid is 20 lots (equivalent to 2,000 taels).
The bid price step is VND 10,000/tael. The bid volume step is 100 taels. Each bidding member is only allowed to register 1 minimum price level equal to or higher than the floor price announced by the State Bank of Vietnam.
In the most recent bidding session on April 25, the State Bank of Vietnam also auctioned 16,800 taels of gold bars, but it was canceled because only one entity submitted a bid. The reference price for calculating the deposit value was VND 82.3 million/tael (this price is only used for calculating the deposit).
