UK Money blog provides news and comment on the world of money, finance and investment. We cover mortgages, loans, leasing, insurance, credit cards, property, savings and taxation.
27 November 2008
Gold Price Prediction Puts Spotlight on Brown
A leading gold bullion trader predicts that gold could rise to $2,000 per ounce by the end of next year. Tom Fitzpatrick who is the chief technical strategist for Citigroup says the wave of liquidity being poured into the global economy will see a flight to gold. The current price is $812 per ounce. UK Prime Minister Gordon Brown is famous for selling half of the UK's gold reserves between 1998-2000 at the bottom of the market. The Treasury secured an average price of $275 per ounce. So much for our leader's financial expertise.
Labels:
Citigroup,
Gold,
Gordon Brown
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