The International Monetary Fund, IMF, has approved the sale of a limited amount of its gold to shore up its finances. China, India and Russia have indicated interest in such purchases as a way of reducing their position in dollar-denominated securities. The purchase of the gold will also help these countries to increase their role in IMF operations as they have complained the IMF is dominated by the United States, its largest shareholder, and European nations.The fund's executive board said in Washington that it has decided to sell a volume strictly limited to a little over 403 metric tons, 1/8th of its holdings in a way that does not disrupt the sale of gold in commodity markets, which already were expecting and discounted the IMF decision.