An important event happening on Monday that I have been following for awhile - the implementation of the Basel III rules where Gold changes from a tier III asset to a tier I. This ends the rehypothecation of gold, which is needed to manipulate prices on the paper market. It's going to be interesting to follow up with these events on Monday and at the comex; there could be some clearing houses that go bust as soon as the rules go live as they weren't able to cover their position in time (which they had 7 years to do).
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Thank you for the explanation. Makes complete sense. My neighbor was telling me something about this a little bit ago but he kind of jumps around on topics so I didn't grasp what he was saying about gold. He told me to continue to stock up on physical metals.