Gordon brown biography uk gold
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The sale of UK gold reserves was a policy pursued by HM Treasury over the period between and , when gold prices were at their lowest in 20 years, following an extended bear market.
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Twenty years ago on Tuesday, then Chancellor of the Exchequer Gordon Brown said he was selling tonnes of Britain's gold reserves.
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Gordon Brown’s decision to sell of half of Britain’s gold reserves 20 years ago at the bottom of the market has been billed as the worst financial decision of all time.
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In his arrogance, Gordon Brown decided that he knew how to time markets, and decided it was the perfect moment to dump more than half of the nation’s gold reserves.