BOC set to sell gold for dollars

The Bank of China, the country's biggest foreign currency lender, plans to allow investors to buy and sell gold using their US dollar accounts in a move to boost sales of the precious metal.

The BOC's Shanghai branch says it will start trial trading in greenback gold this year and expand the pilot to its other branches in China.

China now allows investors to buy and sell gold only through yuan accounts, though the sales are based on the dollar value of the metal on international markets.

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