Today (May 14th), another 26,000 taels of gold will be auctioned.

The State Bank of Vietnam has set the expected reference price for calculating the deposit value at 41.18 million VND/ounce.

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On the afternoon of May 13th, the State Bank of Vietnam announced the 17th gold bullion auction, which will take place at 9:00 AM on May 14th at the State Bank of Vietnam's Exchange Department.

The volume offered for sale this time is 26,000 taels of gold (equivalent to 1 ton of standard gold), in SJC gold bars with a purity of 99.99%. The bidding method is price-based, with the reference price for calculating the deposit value for tomorrow morning's session, as projected by the State Bank of Vietnam, being 41.18 million VND/tael.

According to regulations, each bidder may only register one price, which must not be lower than the floor price. Each bidder is allowed to bid a minimum of 10 lots of gold bars, equivalent to 1,000 taels; and a maximum of 100 lots, equivalent to 10,000 taels of gold. The bidding price increment is 10,000 VND/tael and the bidding volume increment is 1 lot (equivalent to 100 taels).

Previously, the State Bank of Vietnam held 16 auctions from March 28th to the present. Through these auctions, the State Bank of Vietnam sold 436,000 taels of gold to banks and gold trading businesses out of a total of 484,000 taels offered.

According to (vov.vn) - LT