Accordingly, the minimum bidding volume per bidder in the upcoming auctions is five lots, equivalent to 500 taels, and the maximum bidding volume per bidder is 40 lots.

Each bidder is only permitted to register one minimum price equal to or higher than the floor price announced by the bank.

The May 16 session saw 11 bidders buying 12,300 taels. The highest winning price was 88.92 million VND (nearly 3,500 USD) and the lowest was 88.89 million VND per tael. A tael equals 37.5 grams or 1.2 ounces.

Since April 19, the SBV has organised seven gold auctions, of them four successful with 27,200 taels sold, while the remainders failed to attract bidders. In the auctions, the bank offered a reference price close to that of Saigon Jewelry JSC (SJC), a major retailer, in the market.

According to the SBV, its auctions aim to ensure stable, transparent, and effective operations of the domestic gold market.

Bac Giang creates raw material areas and linkage chains to expand export market for farm produce

BAC GIANG – The agricultural production value is increased by ensuring both domestic consumption needs and export market, especially to demanding and high-end markets. To achieve this goal, in addition to meeting the technical barriers of importing countries, Bac Giang province focuses on building large-scale, concentrated raw material areas and creating quality products to supply to the market.

Q1 market share competition among automakers in Vietnam

Local automaker VinFast led Vietnam's car market with a 14.26% share in the first quarter, closely followed by Hyundai at 13.76%

Hanoi highschooler raises virtual account by 7-fold to enter US stock market contest's final round

An 11th grader at Olympia High School in Hanoi is one of 25 youths around the world that has made it to the final round of a stock market trading competition held by the Stevens Institute of Technology.

Commodity market benefits from Vietnam-Australia trade

After more than 50 years of diplomatic relations, Vietnam and Australia recently marked a new milestone with the establishment of a Comprehensive Strategic Partnership. This promises to open great opportunities, especially in the field of commodity trade.

Breakthrough forecast for auto market in H2

The Vietnamese automobile market witnessed a significant sales decline in the first month of 2024, yet businesses and experts forecast that the market may see a breakthrough in the second half of the year.

Source: VNA