With domestic gold prices far higher than world levels, the demand has weakened due to risk aversion. Therefore, there is reason for businesses to worry that they could not sell the metal after they win a gold auction held by the State Bank of Vietnam (SBV). Why did they fail? In the three SJC gold auction sessions organized in late April by the SBV, two sessions were canceled due to little interest of businesses, with only one successful session done on April 23, but with two out of 11 participating businesses winning the bid for a mere 3,400 taels (*) out of a total of 16,800 taels of SJC gold offered. The first reason for the failure of the gold auctions is possibly the high reserve price set by the SBV, which is unattractive to businesses. Specifically, on April 22, the reserve price was VND81.8 million a tael, VND80.7 million on April 23, and VND82.3 million on April 25. These prices were almost on par with the then market prices, so clearly, they did not help bring down domestic gold prices. Secondly, the minimum bidding volume was seen as too high. If they win an auction but take late delivery […]
With domestic gold prices far higher than world levels, the demand has weakened due to risk aversion. Therefore, there is reason for businesses to worry that they could not sell the metal after they win a gold auction held by the State Bank of Vietnam (SBV). Why did they fail? In the three SJC gold auction sessions organized in late April by the SBV, two sessions were canceled due to little interest of businesses, with only one successful session done on April 23, but with two out of 11 participating businesses winning the bid for a mere 3,400 taels (*) out of a total of 16,800 taels of SJC gold offered. The first reason for the failure of the gold auctions is possibly the high reserve price set by the SBV, which is unattractive to businesses. Specifically, on April 22, the reserve price was VND81.8 million a tael, VND80.7 million on April 23, and VND82.3 million on April 25. These prices were almost on par with the then market prices, so clearly, they did not help bring down domestic gold prices. Secondly, the minimum bidding volume was seen as too high. If they win an auction but take late delivery […]
With domestic gold prices far higher than world levels, the demand has weakened due to risk aversion. Therefore, there is reason for businesses to worry that they could not sell the metal after they win a gold auction held by the State Bank of Vietnam (SBV). Why did they fail? In the three SJC gold auction sessions organized in late April by the SBV, two sessions were canceled due to little interest of businesses, with only one successful session done on April 23, but with two out of 11 participating businesses winning the bid for a mere 3,400 taels (*) out of a total of 16,800 taels of SJC gold offered. The first reason for the failure of the gold auctions is possibly the high reserve price set by the SBV, which is unattractive to businesses. Specifically, on April 22, the reserve price was VND81.8 million a tael, VND80.7 million on April 23, and VND82.3 million on April 25. These prices were almost on par with the then market prices, so clearly, they did not help bring down domestic gold prices. Secondly, the minimum bidding volume was seen as too high. If they win an auction but take late delivery […]
Walking brings many benefits to health, improving cardiovascular health, relieving stress, controlling blood sugar, strengthening the immune system, and increasing longevity.
According to Suc khoe...
According to the Vietnam Logistics Business Association (VLA), logistics costs account for 16.8% of Vietnam’s GDP, well above the world average of 10.7%. This...
Despite their first-quarter rebound, Vietnamese exporters are still grappling with mounting challenges induced by geopolitical tensions, exchange rate volatility and surging logistics costs.
The lingering...
The performance of businesses in the first quarter of this year influences investor sentiment amid the market correction.
Q1 profit picture
The VN-Index of the Hochiminh...
France's dedication to attracting investments in low-carbon products and advancing forward-looking supply chains presents an opportunity for foreign investors, including those from Vietnam, to...
The significant decline in aggregate demand in Vietnam’s economy since 2023, attributed to weakened investment, consumption, and exports, requires urgent remedial measures. This is...
With the current foreign exchange reserves able to sustain around three months of imports, selling foreign currency to stabilize the foreign exchange market is...