Gold hit $1,000 a ounce
13 March 2008, 05:29 PM
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Gold hit $1,000 a ounce
BBC NEWS | Business | Gold hits $1,000 for first time
And for all you Labour skeptics out there (I am sure there are some out there somewhere
)
We sold at 415 tonnes @ $271 an ounce or thereabouts - We have 300 tonnes left.
And for all you Labour skeptics out there (I am sure there are some out there somewhere
)We sold at 415 tonnes @ $271 an ounce or thereabouts - We have 300 tonnes left.
13 March 2008, 05:38 PM
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BBC NEWS | Business | 30 years of gold highs and lows
If you look at the chart you will see that he sold (between 1999 -2001) at pretty much the lowest price for 20 years, and since the sale, the price has shot up to its highest price in history.
If you look at the chart you will see that he sold (between 1999 -2001) at pretty much the lowest price for 20 years, and since the sale, the price has shot up to its highest price in history.
13 March 2008, 05:53 PM
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BBC NEWS | Business | Gold hits $1,000 for first time
And for all you Labour skeptics out there (I am sure there are some out there somewhere)
We sold at 415 tonnes @ $271 an ounce or thereabouts - We have 300 tonnes left.
And for all you Labour skeptics out there (I am sure there are some out there somewhere
)We sold at 415 tonnes @ $271 an ounce or thereabouts - We have 300 tonnes left.
we lost out on $729 per ounce
or $25,714,718.2251 down overall
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13 March 2008, 06:06 PM
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Good old Labour, we will probably start buying it all back again at its highest, just as soon as we pull out of Iraq lol
Dont blame Labour though, its was the right thing to do im sure
Dont blame Labour though, its was the right thing to do im sure
13 March 2008, 06:10 PM
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415 tonnes = 14,638,694.2 ounces
* $729
= $10,671,608,071.80
Which makes sense, because a couple of years ago people were saying he had lost £2billion.
13 March 2008, 06:16 PM
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1 troy oz = 31.1034768grams
415tonnes = 415,000,000grams = 13342560 troy oz
At $1000 per oz = $13,342,560,000
At $271 per oz = $3,615,833,713
So the Iron '**** Wit' Chancellor lost us $10bn or approx £5bn with his 'prudent' decision..
Hardly pocket change
13 March 2008, 06:21 PM
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A lot of other sold at the same time though basically flooding the market. No defence of course, if you can see others doing it then hang on as it will become scarce again. Top related news story here:
BBC NEWS | World | Africa | Fake fears over Ethiopia's gold
5t.
BBC NEWS | World | Africa | Fake fears over Ethiopia's gold
5t.
13 March 2008, 06:24 PM
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i hate defending them but the losses arent that high. he invested the money into the foreign currency market and made money that way.
Still not as much as he would have made if he had kept it in gold.
The one most forget about is the fact they sold most of the government buildings they owned and now rent them back. However they didnt do their homework and didnt realise the company they sold them to was registered off shore so we dont get to see any of the tax a british company would have had to pay. Nice one NL.
i would imagine the losses on this were huge.
Still not as much as he would have made if he had kept it in gold.
The one most forget about is the fact they sold most of the government buildings they owned and now rent them back. However they didnt do their homework and didnt realise the company they sold them to was registered off shore so we dont get to see any of the tax a british company would have had to pay. Nice one NL.
i would imagine the losses on this were huge.
13 March 2008, 08:41 PM
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13 March 2008, 08:54 PM
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Sell your old scrap jewellery now.
9ct. 18ct. foreign gold whatever.
I'm in the trade and it wont help the Gov. but youll get the best deal now.
Wait a week and I'll be proven wrong as usual.
Youre choice.
9ct. 18ct. foreign gold whatever.
I'm in the trade and it wont help the Gov. but youll get the best deal now.
Wait a week and I'll be proven wrong as usual.
Youre choice.
14 March 2008, 03:12 PM
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Really impressively sharp decision that was on Flash's side.
Snazy,
You have noticed that business they are all saying now about it being"the right thing to do"! As soon as you hear that you know they have lost any chance of justifying what it was that they just did!
Its a bit like that other bit of Politicospeak when they start off a sentence with the word "Look". You know they have just run out of excuses and they are trotting out the lies again!
I can't believe that they still think they are fooling us.
Les
Snazy,
You have noticed that business they are all saying now about it being"the right thing to do"! As soon as you hear that you know they have lost any chance of justifying what it was that they just did!
Its a bit like that other bit of Politicospeak when they start off a sentence with the word "Look". You know they have just run out of excuses and they are trotting out the lies again!
I can't believe that they still think they are fooling us.
Les
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