Basel III Update on Gold and Silver

If Swiss IBS bank curtails the paper trading of Gold Under Basel III late this month then most are saying iit's going to spike against the dollar. By the end of year for sure.

serf

https://www.usgoldbureau.com/news/basel-iii-update-on-gold-and-silver

By the end of December 2021, the Prudential Regulatory Authority, which is part of the Bank of England, will implement Basel III across all of England (they oversee 1,500 financial institutions of various types). At that point, all LBMA member banks must comply with Basel III. Since the primary activity of the LBMA is related to unallocated gold, this will essentially mean the end of the LBMA and unallocated gold positions trading hands in London. There will be a winding down of trading desks related to unallocated gold between now and June 28 in Europe, and between now and December 31 in the UK. As paper unallocated gold must be removed from bank balance sheets, other assets will need to be added to take its place. Physical gold is one of those options, and it will be considered a Tier-1 asset, weighted at full value for reserve requirement purposes.