With only one unit participating, the State Bank of Vietnam canceled the auction to sell gold

According to the State Bank of Vietnam, continuing to implement the policy of bidding to sell gold bars to increase supply to the market, on the morning of April 25, 2024, the State Bank organized a bidding session to sell gold bars to credit institutions. Applications and businesses are eligible to participate in gold bidding with the expected bidding volume of 16,800 taels of SJC gold bars.

However, this agency has just announced the cancellation of the bid because only one unit submitted a bid form.

Thus, this is the second time the State Bank has canceled a gold bar auction.

Previously, on April 22, the State Bank canceled the first gold bar bidding schedule due to not having enough members to register to bid and transfer deposits according to regulations. This bidding session has been moved to the morning of April 23.

At this bidding session, 2 members won the bid. The total winning bid volume is 34 lots (equivalent to 3,400 taels of gold). The highest winning price was 81.33 million VND/tael. The lowest winning bid price is 81.32 million VND/tael.