SBV Headquarters
On May 21, 2024, the gold price in the international market was at USD 2,416 per ounce (oz), an increase of USD 34 per oz as compared to that of May 16, 2024, the date of the most recent bidding session. The price of the SJC-branded gold bar was VND 89.4 million per tael on average, an increase of VND 820 thousand per tael (0.9%) as compared to that of May 16, 2024. The average price of the SJC-branded gold bar was VND 14.28 million per tael higher than the international gold price, slightly decreasing by VND 40,000 per tael (0.2%). On May 21, 2024, the State Bank of Vietnam (SBV) continued to hold an auction of gold bullions for the market intervention. There were 9 bidders with total bid amount of 7,900 taels.
In the coming time, the SBV would continue to hold more gold bullion auctions to increase the gold supply to the market. In light of fluctuations in the international gold price and the SBV interventions, the people should be cautious when engaging in gold transactions in order to minimize risks.
Le Hang