Gold to Regain Full Status As Financial Asset in January As Basel III Rules Kick In

Kitco News’ Daniela Cambone has released an interview with Scotia Bank’s VP of Commodities Patricia Mohr on the Basel III regulations going into effect on January 1st 2013, in which gold will be reclassified as a tier 1 asset.  As gold regains full status as a financial asset (meaning along with cash and treasuries, gold will be able to be used to meet margin calls), the metal should see substantial new demand from the banking sector.

Full interview below: