Gold is also likely to be classified a top-tier bank asset, meaning commercial banks would be able to lend against 100% of their gold holdings rather than 50%.
By Philip Whiterow
Gold proved a good place to store wealth in 2012 and so it could be again in 2013.
Over the last 12 months the precious metal has gained around 6% in value to $1,674 an ounce, driven by investors looking for safe havens from the eurozone, more quantitative easing from the US Federal Reserve, demand from central banks, and supply issues especially in South Africa.
A raft of commentators, brokers and industry participants predict it will climb higher, topping $2,000 and even rising as high as $2,500 by the close of 2013.
That looked a near-certainty in November when the Fed unleashed a third round of QE, a move that sent the gold price close to $1,800.
The mood has cooled since then, even though for the gold bulls the scenarios that drove the price higher in 2012 remain more or less intact.
Chief among these is the prospect of continued or even more QE in 2013 if the tentative US recovery seems in danger of stalling. ...