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ahrega

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27/02/21

20:57

Post #: 51391214
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Originally posted by ahrega: ↑

Is this going to have an affect on Gold price? Suposed to happen this March.

Andrew Maguire looks ahead to the introduction of Basel III rules in March next year and breaks down the expected global impact on banks, the gold markets and the price of gold itself.What does Basel III mean for banks’ gold reserves?Currently, paper gold is not a 1st tier asset. Only fully allocated physical bullion that has no counterparty risk attached that qualifies as a first-tier asset. As we mentioned earlier, Basel III rules coming into effect in March through to January 22 will eliminate any valuation haircut.The new rules will require a provable 1:1 ratio of fully allocated gold reserves, with no counterparty risk. Under Basel III rules, every central bank will be able to revalue its physical reserves higher, from a current 50% haircut into a fully cash exchangeable asset.Andrew Maguire believes that central banks will be able to pay off massive swathes of debt by revaluing gold. According to the precious metals expert, gold would not only act as a cash asset, but would also behove central banks to revalue the dollar price of gold.What does this mean for the gold?Andrew Maguire believes Basel III rules will lead to a sanctioned gold reevaluation, while ultimately driving a more physical market. In this week’s episode of Live from the Vault Andrew Maguire looks at how Basel III rules will affect the price of gold and reveals the level at which he estimates the precious metal will be revalued.

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Sorry not sure of those dates, Cant believe everything one finds on the internet.
May have been implemented in 2019. Will no doubt have an affect on price of gold at some stage with all this money printing.

RMS Price at posting: $1.28 Sentiment: Buy Disclosure: Held
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0 Great analysis

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