Well George Brown sold most of our gold. This was part of the asset stripping initiative of the Oxford/Eton based deep state. In fact, a lot of the gold we are storing doesn't belong to Britain, and was entrusted to us to avoid it being stolen by the Nazis. What a mistake that was, they've got it anyway, they just used the banks and the EU to get it. Much less effort and risk that having to send in tanks and battleships. There is a move around the world to recover the gold that was moved for "safe keeping", and it doesn't look as if many countries are going to get it back at the moment.
There isn't enough gold to go around, so physical gold couldn't be used for bank savings deposits ( anyway they want to keep any they get for themselves ). I think that there is around 100 times as much gold sold in paper transaction than exists in the entire world. Silver is not much better either.