Economy 18 December 2012 The Queen takes a swipe at Gordon Brown over gold sale George Osborne was amused as the Queen said that "regrettably" the UK's gold bars "don't belong to us". Sign up for our weekly email * Print HTML Unlike Prince Charles, the Queen usually avoids making political interventions, but she lapsed while visiting the cabinet today. Walking along the line of ministers inside No. 10, she reached George Osborne (see video above) and, in a reference to her recent visit to the Bank of England, remarked, "I saw all the gold bars, which regrettably somebody said don't belong to us." An amused Osborne replied: "Some of them were sold, but we've still got some left." The politically-minded Chancellor resisted the temptation to add "sold by Gordon Brown". Between 1999 and 2002, Brown sold 60 per cent of the UK's gold reserves (395 tonnes) for an average of $275.6 an ounce, only to see prices subsequently rise to above $1,600 (£986). In 2010, Osborne declared: "Gordon Brown's decision to sell off our gold reserves at the bottom of the market cost the British taxpayer billions of pounds. It was one of the worst economic judgements ever made by a chancellor." At a time when his own strategy has failed dramatically, Osborne will no doubt be pleased to discover that the Queen appears to agree. › Toyota just got fined $17.35 m over floor mats The Queen sits next to David Cameron as she attends the government's weekly cabinet meeting. Photograph: Getty Images. George Eaton is political editor of the New Statesman. Subscribe from just £1 per issue More Related articles Will Storm Doris affect turnout in the Stoke-on-Trent and Copeland by-elections? What does it mean for Ukip if it loses in Stoke-on-Trent Central? What does François Bayrou's endorsement of Emmanuel Macron mean for the French presidential race?