UK Gold Reserves Opinions Needed

All,

Need your opinions on what you think the UK should do with their gold reserves.

http://www.dailymail.co.uk/news/art...-London.html

Article states:

Cash-strapped British people will breathe a sigh of relief when they see these impressive treasure troves.

Despite the financial crisis, it seems the country still has some money left in the Bank of England's vault beneath London.

In fact, there are stacks of gold bars worth a whopping £156 billion stored in an old canteen deep below the streets of the capital.

Now some bright sparks are suggesting the following:

"The gold market is at a high, time to sell part of the profit element off to help pay the public sector debt off? Or, shall we just keep grinding ordinary folk into the ground and underfund growth plans?"

I responded back:
Selling off the gold should only be considered as the very last option. Don't see any signs of the price of gold going loweranytime soon, so if they were foolish to sell it off, then they need to understand they will never be able to replace it anytime soon. Yes, the precious metals markets are being fiddled with but remember China has not stopped buying precious metals.

They responded back:
The market will fall in due course Ken and I am only talking about the profit element made on the original cost element. Little value if you don't make use of the ups and downs of the market when holding gold stocks.

I responded back:
By that logic of playing the ups and downs, they missed the boat already since gold reached $1900 an ounce back on 5th/6th Sept. 2011. Other thing, if they sell off the gold and pay down the public debt, where does the cash come from in the future to buy gold again when the price ever goes low again?

To which they responded:
From the UK's economic growth and the tax revenues generated from it.

I am at a loss to what to say back now.

Ken