I bet Gordon Brown wishes he'd waited to sell 50% of our gold reserves now, rather than at the rock-bottom price (the lowest in 25 years) a few years back - yet another example of the extremely poor economic decisions that the so called 'iron chancellor' made.

russell, moseley,

Well done Gordon Brown selling off our gold reserves at very low prices. The Iron Chancellor

Scott, Exeter, Devon

Gold Soared?
No it didnt.

It soared for the last 4 years, its been pretty steady recently, its lived above $950 for ages, breaking $1000 was hardly a massive ascent.

And there was me thinking I could sell mine for a bigger profit.

As for a bad investment.
Gold is up 400% over 4 years in dollar terms, what dividend paying investment can say that?

Dominic, Manchester, UK

Mr Brown did a great job selling of some of the gold reserves 10 years ago.How much has this cost the economy?

stephen hulton, eure, france

"normal people will not loose (sic) much"?... (Saeed) Dear me - some people seem to have failed to grasp the enormity of the potential situation.
In a recession businesses go bust - people lose their jobs and their homes. Young people find it as hard to find work as anyone else. A recession does not benefit anyone except those with very deep pockets who can pick up a bargain in land, housing or business and sit on it till an upturn comes several years later.

Alan, London,

"for the ordinary people of both India and China both of whom like to show of their wealth..."
Over here it is cars and style...

Let us not forget: Gold is ordinary people's hidden hedge against inflation. Those better of might have some too, but land and art is a "higher concentrated" store of wealth.

Peter Vernunft, Berlin, Germany

Glad to see some sensible comments here today.
Extrapolate at your peril !!! Look at the charts. Gold could just as easily see a sharp correction.
It's not the end of capitalism folks.

Paul, London, UK

I am thinking of writing a childrens book entitled "We're all going on a Goldrush - we're not scared!". Can anyone suggest a suitable ending?

R.Rees, Llandysul, Wales

Another resounding success for Gordon then. Remind me what price he sold the UK gold reserves for when he was chancellor?

Anthony, Northampton,

Replay to Mark Klein. This is very interesting Mark. I think you're right. A lot of it is pure speculation and unexperianced investors will buy into gold amongst driven demand.

Martin M, London, UK

Now let me see.... who sold off British gold reserves at a rock bottom price? Prudence...you must be joking!

Matt, Camberley, UK

I'd like to sell a big well done to Labour for selling all our gold reserves at a tiny % of what its now worth......Roll on election day!

Jamie, Maidstone, England

Some of the increase in the gold price as with oil can be linked to weakness in the $, but the long trem future of that metal does look good , more because of it's attraction for the ordinary people of both India and China both of whom like to show of their wealth by wearing jewlery, and as they get wealthier as a country they will be spending more on all types of comsumer goods, which will give a bost to any raw meterial, so mineing companies have to be a good bet

Michael Rudd, Barking, Essex

good news for most people, normal ppl will not loose much its the big companies that will loose the most ,personaly i been waiting for the crash for somtime.soon Young ppl in the Uk and beyond will benifit from the crash.
come on bring it.

Saeed, London,

Yup, I could not agree more. Get into gold as its time has come. Minimum $2,000 gold within two years.

M Grelton, Bath, UK

With 35 years as a successful long term holder of solid dividend paying here's my 2 cents on buying gold. I agree the nominal price will rise but whatever that turns out to be one's real wealth hasn't increased. Gold pays no dividends and quality assets whose prices are linked inflation will simply rise in tandem to gold. For example, homes on Curzon Street will just become more dear.

Got into the investing game at the bottom of 1974 bear market when gold soared. Did extremely well buying and holding for decades top quality dividend paying shares selling back then for rock bottom prices. In the current situation my dividend income is rising sharply as good companies shovel out the moolah to keep the shareholders happy. BP just raised its 31% despite a poor last quarter.

Be wary when the mainstream press toots an investment. Mr. and Mrs. Joe Six Pack never ever gets fresh information! More likely insiders are selling to the suckers. Contrarians usually do the best.

MARK KLEIN, M.D., OAKLAND, CALIFORNIA