Lower price, gold continues bidding "sold out"

 

► The auction takes place today when gold SJC fell to its lowest level in more than 2 months ago ...

The difference between the domestic price and the world is now at nearly 5 million / tael


The auction gold by the State Bank balances held this morning only 100 out of 26,000 taels of bidding. More likely, banks and businesses have enlisted the lowest gold price in 2 months to consolidation.

According to information from the State Bank, this morning, the agency held a second auction 32 pieces of gold, and the first session of this week. The results, has sold 25,900 of 26,000 taels of gold bid.

The amount of residues 100 to see continued demand from banks and businesses for gold resources by the State Bank maintains strong before the 30/6 that the credit institutions to complete finalization gold status.

Notably, today's auction takes place when gold SJC fell to its lowest level in more than 2 months back, ie from the record gold price cuts on international markets in April. This morning, SJC gold price in the market has slipped from the threshold of 40 million dong / tael for buying.

Bid price today is higher than the market price as usual. In particular, the highest bid price is 40.1 million / tael and lowest winning price is 40.02 million / tael.

There are 8 banks and businesses to participate in the bidding to buy gold today. These are the banks and credit institutions have established relationships directly purchase gold with the State Bank.

After 32 auction starts on 3/28, the State Bank has offered 900,000 taels, equivalent to more than 34.6 tons of gold, and sales of 813 200, or about 31.3 tons.

The difference between the domestic price and the world is now at nearly 5 million / tael.

This afternoon, domestic gold prices continue downward trend of the morning and are at risk for loss of 40 million dong / tael for sale.

At 16h, the Company Phu Quy Jewelry SJC gold price listed at the Hanoi market at 39.95 million / tael (purchase) and 40.05 million / tael (sold out). At City Market, the company Saigon Jewelry (SJC) SJC gold trading at levels respectively is 39.85 million / tael and 40.05 million / tael.

On the international market, gold prices fell further when the session begins in Europe. At 16h now Vietnam, spot gold price is $ 1,378.3 / oz, down $ 7.4 / oz compared to last night's close in New York.

Tonight, the U.S. Federal Reserve (Fed) will start the monetary policy meetings and regular meetings will end tomorrow night. According to the experts, the results of this meeting can significantly affect the price of gold.