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What’s your gold story: Gary Mead

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This week’s guest is our very own Gary Mead. Gary has worked as a journalist in the UK, Poland, South Africa and Argentina. He was with the Financial Times for a decade before joining the World Gold Council. He worked for an independent commodity consultancy which provided full commodity research and analysis for various investment banks. In 2011, he joined the Institute of International Finance in Washington D.C. where he was Media Director. He is now the content editor with Glint.

“I started out as a journalist and still think of myself as a hack. I spent a decade at the Financial Times and ended up as Commodities Editor. At the FT if you believed in gold you were regarded as being ill-educated and possibly primitive. That formed my education in gold.

People mistakenly imagine it’s a rich life being a journalist. When I started a family, I needed to earn more money so I joined the World Gold Council as Head of Research in late 1998, just in time to catch what seemed to me to be a concerted selling of gold from their reserves – capped off by Gordon Brown (then the UK’s Chancellor) selling half the UK’s gold. The gold price collapsed and I thought it would have further to drop.

So thinking myself to be a superior, rational yet ordinary type I thought that elected governments would always do the right thing by their citizens. How wrong that turned out to be.

When the world started to get uglier a year or more ago, I searched around for ways to put a bit of money into gold. But all I could find were expensive and uncertain exchange trade funds, or very high-cost ways of investing in gold-backed paper financial instruments. I don’t have enough spare cash to get involved with those risky things.

And then, almost by accident, I discovered Glint. Bingo! Just what the doctor ordered. So now, whenever I have a bit of spare cash, I top up my gold holdings. For me, it’s a kind of insurance policy against the uncertainties of the future.

My gold story is very ordinary – it has been a lifetime of education, a lifetime of watching governments consistently screwing things up. Gold is my redoubt and I wish I could build it higher”.

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