gold, page-49479

hi , Slay22

people should be careful following any of those idea as reasons to buy gold as they are totally incorrect.

There was a lot of hype a couple of weeks ago as gold fell below 1300 USd on this "upgrade to Tier one" "gold is clearly money"" prepare for basel3"

The reality is GOLD was a tier one asset depending on how it was held in BASEL 2!

Basel 2 came out in 2004, gold was included then , its classification depended on how it was held, Tier 1 or Capital 3...………...lots of things in all the categories get haircuts .. first time since 1978?, that a strange claim considering when basell 2 was released in 2004

Basell 3 rules came along in 2013...…………...It did away with some classifications, gold again is tier one asset, everyone has known the rules for years.....im not sure why they suddenly think these long known rules will suddenly affect gold price.

The other thing I find amazing by the same ppl all saying get ready , basel3 coming and because gold has now been upgraded , is this idea that the change to gold classification (which isn't true) was one of the main reasons the central banks had been buying gold of late , they illustrate the data which shows they have been buying up.

The problem with this of course is that the likes of the FED, ECB, (central banks) aren't doing anything because of Basel3, it doesn't apply to them.

Plenty of information out there to confirm Basel 2 and 3, Gold classifications in both, when they came out etc



2