Lukewarm interest in Vietnam’s first gold auction after 11 years

Lukewarm interest in Vietnam’s first gold auction after 11 years

Just two companies submitted bids to buy 3,400 taels of SJC-branded gold bars, or 20.2% of the volume offered, at an auction held by Vietnam’s central bank Tuesday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank to auction 16,800 taels of gold after 11-year hiatus

Vietnam central bank to auction 16,800 taels of gold after 11-year hiatus

The State Bank of Vietnam (SBV), the country’s central bank, will auction 16,800 taels of SJC-branded gold bars next week for the first time in 11 years to help bring prices down in a country where the metal is highly favored as a safe haven asset.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

US dollar hits new high versus Vietnam dong

US dollar hits new high versus Vietnam dong

The U.S. dollar has continued to strengthen against the Vietnamese dong, reaching a new high at commercial banks and causing another headache for the country’s central bank, which has been ordered to stem gold fever.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

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