Bank of England: Gold Is a Rare, Durable “Store Of Value” – BBC News

Source: BBC News

◆ In a rare look inside Bank of England’s gold bullion vault, the BBC is shown and reports that £194 billion worth of gold bars are stored there

◆ They hardly ever let anyone in to film, but the BBC’s Security Correspondent, Frank Gardner, is given access to the Bank of England’s gold vault to view some of the 400,000 gold bars which are said to be worth nearly £200 billion

◆ Victoria Cleland, Executive Director and the 32nd chief cashier of the Bank of England points out how gold is valuable because it is rare, “it’s in limited supply, you can’t keep making it”

◆ The BBC notes at the end of the video that gold has never been robbed from the Bank of England’s since it was established in 1694 … “yet”… which may be concerning if you are a sovereign nation storing national gold reserves in the Bank of England

◆ “People want gold, so it creates a market in itself, it doesn’t change value as much, for example, as currency …”

◆ It is “durable”, unlike chocolate (or pounds, euros and dollars), is “globally recognised” and a “store of value”

Access BBC video here


Exclusive Gold Offer – For Retail, Pension and HNW Investors

Given increasing bank and currency risks, it is prudent for UK residents to own gold stored in secure vaults in the UK. To celebrate our appointment as a Royal Mint Approved Distributor, we are offering CGT Free Gold Britannias and Gold Sovereigns (newly minted 2020 coins) at record low premiums for all lump sum and pension investments worth more than £10,000, €12,000 or $14,000. We are also giving 12 months of Secure Storage free of charge.

Key benefits and information here



NEWS and COMMENTARY

Gold gives up earlier loss to finish higher after comments from the Federal Reserve’s Powell

Gold subdued as abating coronavirus fears whet risk appetite

Wall Street reaches record highs on waning coronavirus fears

US deficit surges 25% in fiscal 2020 and is up $1.1 trillion over the past year

Powell says Fed will aggressively use QE to fight next recession

Oil rises over 3% as demand worries ease amid fewer new coronavirus cases

 

GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

12-Feb-20 1566.75 1563.70, 1206.55 1206.55 & 1434.83 1434.54
11-Feb-20 1567.70 1570.50, 1212.77 1211.33 & 1436.01 1438.26
10-Feb-20 1574.05 1573.20, 1219.26 1215.93 & 1437.11 1439.64
07-Feb-20 1568.30 1572.65, 1212.45 1214.56 & 1432.33 1433.63
06-Feb-20 1564.75 1563.30, 1205.95 1206.71 & 1421.89 1 422.45
05-Feb-20 1552.20 1553.30, 1189.30 1198.22 & 1407.53 1411.79
04-Feb-20 1571.20 1558.35, 1207.62 1196.66 & 1421.62 1411.09
03-Feb-20 1578.85 1574.75, 1207.98 1209.41 & 1426.65 1425.46



Watch Podcast Here



SIGN UP FOR OUR AWARD WINNING MARKET UPDATES HERE




Mark O'Byrne

Also on news-goldcore-com

Videos

Gold Mining Operation Supply Issues Points to a Sustained Bull Market for Gold

What could send gold to $5000 per ounce?

Is it Good to Buy Gold Now?

Blog posts

Gold to Gain Momentum in 2021 – Here’s Why

Big ideas are like supertankers filled with oil; both take forever to get moving. The move from one state to another is a boring form of entertainment. However, each is impossible to stop once the momentum has built. Substantial progress can be seen over a period of time and one can notice and understand the […]

READ MORE

New Video: Dominic Frisby -Why Now is a Good Time to Buy Gold

This week’s guest on GoldCore TV is financial writer, author, and comedian Dominic Frisby who joins Dave Russell to discuss financial markets, inflation and why now is gold and silver’s time to shine… Watch the Video to Learn More Make sure you don’t miss a single episode… Subscribe to our YouTube channel. Gold to hit $3,000, […]

READ MORE

Will Gold and Silver Surge to New Highs in 2021?

Gold has clearly broken out to the upside in recent days and silver is rallying along with it! Gold has pushed past its 200-day moving average and broke upwards through the downtrend line. The gold price has risen 12% in US dollar terms from the year-to-date low set on March 30, 2021, of US$1683.95 to […]

READ MORE

Featured

Gold posts its first loss in 11 sessions as Trump’s speech ebbs Iran war worries

READ MORE

China and Russia Are Buying Gold and They Don’t Care How Much It Costs

READ MORE

Gold Is Overvalued in Short-Term, Says Goldcore’s O’Byrne

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Gold Mining Operation Supply Issues Points to a Sustained Bull Market for Gold

What could send gold to $5000 per ounce?

Is it Good to Buy Gold Now?

Blog posts

Gold to Gain Momentum in 2021 – Here’s Why

Big ideas are like supertankers filled with oil; both take forever to get moving. The move from one state to another is a boring form of entertainment. However, each is impossible to stop once the momentum has built. Substantial progress can be seen over a period of time and one can notice and understand the […]

READ MORE

New Video: Dominic Frisby -Why Now is a Good Time to Buy Gold

This week’s guest on GoldCore TV is financial writer, author, and comedian Dominic Frisby who joins Dave Russell to discuss financial markets, inflation and why now is gold and silver’s time to shine… Watch the Video to Learn More Make sure you don’t miss a single episode… Subscribe to our YouTube channel. Gold to hit $3,000, […]

READ MORE

Will Gold and Silver Surge to New Highs in 2021?

Gold has clearly broken out to the upside in recent days and silver is rallying along with it! Gold has pushed past its 200-day moving average and broke upwards through the downtrend line. The gold price has risen 12% in US dollar terms from the year-to-date low set on March 30, 2021, of US$1683.95 to […]

READ MORE

Featured

Gold posts its first loss in 11 sessions as Trump’s speech ebbs Iran war worries

READ MORE

China and Russia Are Buying Gold and They Don’t Care How Much It Costs

READ MORE

Gold Is Overvalued in Short-Term, Says Goldcore’s O’Byrne

READ MORE