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AAAU - Gold Hitting Speedbumps On The Way To New Highs
Goldman Sachs Physical Gold ETF
London is the hub of the over-the-counter gold market. At the end of the last century, ironically, it was the United Kingdom that decided that the yellow metal was nothing more than a barbarous relic and an asset of the past.
The Chancellor of the Exchequer at the time, Gordon Brown, supervised the sale of half of his nation's gold holdings. In the interest of transparency, the UK sold three hundred tons of gold via an auction at prices below $300 per ounce from the late 1900s through the start of the new century. The