State Bank cancels gold bar auction on April 22

The State Bank widely announced on April 19 that it will auction SJC-branded gold bars on April 22 and sent a notice to 15 businesses which are eligible to buy gold bars. The auction time was expected to be at 10 AM on April 22.

However, because there were not enough members who registered to bid and transfer deposits according to regulations, the State Bank called of this auction notice.

To drastically implement the solution of auctioning gold bars to increase supply to the market, the State Bank will launch an auction at 10 AM on April 23 and has widely notified eligible businesses to attend the auction.