The gold price myth

There are two myths about the gold industry. The first is that there is a gold price bubble. The second is that Newcrest is cheap. Gaurav Sodhi dispels them both.

A decade ago, Gordon Brown, then UK Chancellor of the Exchequer, declared that His Majesty’s government would sell almost 400 tonnes of the central bank’s gold reserves. The price of gold had been falling for two decades and the British would no longer have to watch the value of the nation’s gold wealth decline.

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