Gold News

State of British reserves highlights power of Gold Investment

The immense growth potential of Gold Investment has been highlighted by a political row in the UK over the sale of Britain's gold reserves at the bottom of the market.

Prime minister Gordon Brown has been criticised by shadow chancellor George Osborne for his decision to sell most of Britain's gold between 1999 and 2002, according to the Telegraph.

This follows the publication of a Treasury report revealing that the country's remaining precious metal rose in value from $8.6 billion to $11 billion last year.

Mr Osborne told the newspaper: "This is more evidence of the true cost still being paid by the British taxpayer as a result of the prime minister's disastrous decision to sell off Britain’s gold reserves at the bottom of the market."

The UK policy on Gold Bullion could change in the future if Gold Prices continue to rise.

In China, for example, the World Gold Council's managing director of investment Marcus Grubb explained that the precious metal currently makes up just two percent of China's gold reserve, and that demand is subsequently expected to be strong over the next ten years.

"Our analysis confirms that significant untapped growth potential exists in the Chinese gold market," he said.

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