HANOI, May 8 (Xinhua) -- Vietnam's gold bars were auctioned at 86.05 million Vietnamese dong (3,383 U.S. dollars) per tael on Wednesday, the State Bank of Vietnam said.

Three winning bidders of Saigon Jewelry Company (SJC)-branded gold bar auction secured 34 lots, equivalent to 3,400 taels, Vietnam News Agency (VNA) reported.

The winning bid price exceeded the central bank's starting price at 85.3 million dong (3,354 dollars) per tael.

According to the VNA, the beginning price was set significantly higher than in the past given that domestic gold prices are consistently breaking records.

This was the second time the State Bank of Vietnam has successfully organized the auction.

The first auction was held on April 23 with two winning bidders securing 34 lots, equivalent to 3,400 taels of SJC gold bars. The highest and lowest winning bid price logged were 82.33 million dong (3,237 dollars) and 81.32 million dong (3,197 dollars) per tael, respectively.

The SJC gold bar price reached its historic peak of 87.5 million dong (3,440 dollars) per tael on Tuesday afternoon.

A tael equals 37.5 grams or 1.2 ounces. Enditem

Related

Go to Forum >>0 Comment(s)