Basel 3 Why it doesn't explode market immediately.
1. New contracts only. Old contracts were formed on old rules. So 3 months to fully implement the NSFR (net stabilization funding ratio - rid of most paper only allocations). Only the new contracts based on "real" gold.
2. Those who wanted immediate pop don't want to wait 3 months. So sell when no immediate rise.
more will come out in following weeks....
GLTA