Gordon Brown Ordered to Explain Why He Sold Britain’s Gold, Regarded as Treasury’s Worst Financial Mistake and Cost Taxpayers £7 Billion

"Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton."

Read the full article at: Gordon Brown Ordered to Explain Why He Sold Britain’s Gold, Regarded as Treasury’s Worst Financial Mistake and Cost Taxpayers £7 Billion

<Our Take>

This is bullish for Precious Metals as senior politicians accross the globe will become reluctant to sell precious metals in these times of uncertainty - given that Gordon Brown might well lose the election over this.