Some 158,200 taels of gold bullion (roughly six tonnes) were sold in six auctions held by the State Bank of Vietnam (SBV).

In the latest auction on April 12, the bank sold 40,000 of the 52,000
taels put out for sale at prices ranging from 42.97 million VND and
42.98 million VND per tael.

Despite the amount of
gold supplied to the market, the domestic gold price is still higher
than the international market price, by 3.5 million VND (160 USD) per
tael. One tael is approximately 1.2 ounces or 37.5 grammes.

The SBV is scheduled to hold three more auctions next week.-VNA