March 4, 2008
Gordon Brown the gold trader
Robert Peston, my former colleague, points out that, with gold now getting close to $1,000 an ounce, Gordon Brown’s sale of 395 tonnes of the British government’s reserves between 1999 and 2002 is looking more badly-timed by the day.
Rob estimates that the gold that was sold for $3.5bn would now be worth $12.5bn. Mr Brown is clearly a better politician than hedge fund manager, although his record as prime minister is a bit patchy as well.
