YEREVAN, June 23. /ARKA/. Following the market demand HSBC Bank Armenia announces the launch of its unallocated gold account services, the bank’s press office reported on Thursday.

“The new service is available and beneficial for both individual and corporate customers as an alternative investment tool. It allows customers to purchase and accumulate unallocated gold, meanwhile giving an opportunity to effect various transactions on the account, including exchange and remittances at any point of time,” the press release says.

Unallocated gold, or funds available on metal account, is a “paper” gold which is backed by the general stock of physical gold maintained in London by a member of the London Bullion Market Association. The gold is reflected in troy ounces and is of 999.5 purity.

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