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Peter Hambro: How to buy gold at a discount
By Peter Hambro
This is Money / Daily Mail, London
Sunday, October 27, 2024
At today's gold price of $2,733 per troy ounce, just a single 400-ounce "large bar" will cost you $1 million or L840,000.
In the 1960s the late Jocelyn Hambro, chairman of his family bank, entertained her late Majesty Queen Elizabeth II and the Duke of Edinburgh to lunch in the bank's famous dining room.
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Wanting to have a topic of conversation that might intrigue the royal couple, he arranged for Mocatta & Goldsmid, then the bank's wholly owned subsidiary that had been a bullion trader since 1684, to make a pile of gold, silver, platinum, and cash that was worth L1 million.
When their majesties were taken into the vaults, deep under Bishopsgate in the City of London to inspect this amazing store of wealth it was an impressive sight.
In those far-off days, a 400-ounce large bar would have cost $14,000 or L5,000 to buy -- say $35 or £12.5 per ounce. ...
... For the remainder of the commentary:
https://www.thisismoney.co.uk/money/investing/article-14007517/PETER-HAMBRO-buy-gold-discount.html
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