bluethrunthru
Well-Known Member
Obviously he sold it when gold prices were low. Very low indeed.
As Chancellor of the Exchequer and the man in charge of the nation's finances it was his job to get the timing right or at the very least a tad better than he did.
He sold it when prices were rock bottom. Even I know gold and other such commodities are cyclic and I'm just a
RWNJ, Brexiteer, white, thick, northern oldie! :-)
At the time it was a decision taken to diversify the nations reserves out of gold into currency because of the very volatility of the gold market. I suppose those people who can predict those cycles are multi billionaires and not politicians. Biggest mistake was pre-announcing as that knocked depressed gold prices even lower.