Everyone knows gold is more than just a metal, it’s also a store of value. Has been since ancient times. But this raises an interesting problem for reporting trade figures: Do transactions of monetary gold count the same as industrial and jewelry sales?
There’s a (very) strong case for saying No. But international reporting standards say Yes… Starting tomorrow, the UK will report 2 trade figures. The first will be the same as always, including all gold trades. The second will be excluding monetary gold trades.
Today’s featured article is by a man who knows all about how this will change the reports, and what they intended goal is. Your Gold Enthusiast hopes this will become the reporting standard…
Continue reading at OFFICE FOR NATIONAL STATISTICS