gold going up:

Ok Guys this is potentially Huge: and does warrant further Investigation:
As I don't think its being picked up across markets yet:
And the full ramifications being thought about :

2. Other assets
Both the Bank for International Settlements and the FDIC (3) are considering re-classifying gold bullion from a Tier 3 (50% Risk-Weighted) to a Tier 1 (0% Risk-Weighted) Reserve Asset, same as cash and some government securities. The decision and announcement is expected during 2012.

If implemented, this would see gold bullion return to the core of the international monetary system.

In the mean-time the BIS in April 2012 published an update of progress towards implementation of Basel III (1) and in a related document, a fascinating long-standing footnote, continually updated (2):
http://www.bis.org/publ/bcbs128b.pdf

81. The treatment of securitisation exposures is presented separately in Section IV. The standard risk weight for all other assets will be 100%.32 Investments in equity or regulatory capital instruments issued by banks or securities firms will be risk weighted at 100%, unless deducted from the capital base according to Part 1.

Footnote: 32
However, at national discretion, gold bullion held in own vaults or on an allocated basis to the extent backed by bullion liabilities can be treated as cash and therefore risk-weighted at 0%. In addition, cash items in the process of collection can be risk-weighted at 20%.

Now Guys Check this out: FDIC link Page 2:http://www.fdic.gov/news/news/financial/2012/fil12027.pdf

Note: The same wording: VIP:
The earliest date for the provisions of Basel III to be implemented is January 1, 2013.

I see this development as hugely significant, particularly for the ECB and European banks, enabling them to expand their balance sheets with any increase in the price of gold.

I also see this development as hugely significant for the price of gold next year.