1,300 taels of gold left unsold at auction
The bank set a reserve price of VND37.35 million ($1,778) per tael, up to VND350,000 ($16.60) higher than the local market price. One institution left without bidding; the other 15 bought 24,700 taels at between VND37.4-37.5 million ($1,781-1,785) a tael.
The gold price kept falling from early morning yesterday, down by VND50,000($2.20) a tael compared with the same time of the previous day. Saigon Jewelry Company gold was listed at 37-37.42 million ($1,761-1,781).
After hitting $1,300 per ounce (1,566.5 a tael) last night, the price fell to $1,276.5 per ounce ($1,538.2 a tael) on the global Kitco.com trading floor, making the gold price in Viet Nam $214.5 per tael higher than the official global price.
Since March 28, the Central Bank has held 43 gold auctions, selling nearly 1.168 million taels (about 45 tonnes).
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