Basel III implemented Monday June 28 too
USA, Switzerland, EU. Jan 1, 2022 UK.
https://www.usgoldbureau.com/news/basel-iii-and-gold
Basel III and Gold
Basel III and Gold
March 2, 2021
Gold Precious Metals Silver Basel III
36%. That is how much the gold price has moved up since we last mentioned Basel III, in this article from April of 2019. We projected then that gold would likely move up in price steadily over time as we got closer to full implementation of these international banking accords. In actuality, the gold price has moved up an average of 1.35% per month since then, yielding more in a month than a five-year CD account pays in interest for a full year. Whilefull implementation of the Basel III rules has been pushed back until January 1, 2022, the largest players in the gold market (USA, Switzerland, EU nations) have targeted June 28, 2021 as the date by which they plan to be in compliance. This shift in behavior implies that significant changes in the precious metals markets lie just ahead, with famed commodities trader Andrew Maguire calling for a $500 boost for gold and a $10-$12 boost for silver over the next 20 weeks.
What is all this about? We have written extensively before about the growing disconnect between paper metal, or the spot price, and the prices and premiums required to purchase actual metal. This disconnect has grown larger in 2021, with the market seeing some of the highest premiums over spot so far being added to the purchase price of precious metals. The spot price is becoming increasingly irrelevant when it comes to precious metals, and Basel III appears to be widening the gap and speedingthe demise of the paper pricing mechanisms for gold.