The BIS and BCBS are two regulatory bodies play a considerably important role in the development of international banking supervisory standards. And, as it happens, they also put forward propositions on how gold is to be seen by the banks.
Recent developments in the currency market may worry some gold and silver investors, as the dollar refused to move lower at the cyclical turning point and the euro seems to have broken below its medium-term rising support line.
As it turned out, the end of 2012 was not the end of the U.S. economy and the “fiscal cliff” was a mere scarecrow and not the doom of the financial markets. A rally began. Will it be the long-awaited rally that could bring precious metals to their new all-time high?