If Scotland becomes independent, it could negotiate with the government for a slew of assets, including the UK’s 310-tonne gold reserves.
If Scotland answers yes to the question of independence, the country could enter into negotiations for a share in the UK’s 310-tonne gold reserves, as well as discussing ownership of other assets.
Currently, the UK is ranked as the 18th largest official sector gold holder, with its reserves worth £7.84 billion. However, this could change if an independent Scotland were to challenge the government for a share of this stock.
Yesterday (September 9th), a spokesperson for the Treasury said: "The distribution of the UK's assets in the event of Scottish independence would be subject to negotiation between an independent Scottish Government and the continuing UK government.”
Gordon Brown, former prime minister, has been criticised heavily for selling around 400 tonnes of the UK’s gold reserves between 1999 and 2002 - a period of time that saw the price of gold drop to its lowest in two decades.
After this, prices surged, reaching £1,193.10 per ounce in September 2011 - almost five times the more than the value achieved in 2002.
Mr Brown, who has managed to stay away from the limelight since his election defeat in 2010, has joined the Better Together campaign and has been quite vocal with his support for Scotland’s 307-year-old union with England.
On September 18th, the people of Scotland will decide if they will break away from the UK and become self-governing or stay attached to the sovereign state. A majority ‘yes’ vote would lead to a slew of negotiations over a myriad of assets, such as the pound and North Sea oil.
Over the weekend, the Yes Movement - which is in favour of an independent Scotland - was ahead in opinion polls for the first time since the referendum was confirmed in December 2013. According to the results of a YouGov survey for the Sunday Times, the ‘yes’ campaign was two points ahead of Better Together, securing 51 per cent of the vote compared to 49 per cent.