Interesting report ..
'After years of being undervalued, a sentiment is building to have gold upgraded to Tier 1 status. This would level the investment playing field for the yellow metal and encourage banks to increase gold’s share of their reserves.
There’s been no official word from the BCBS yet on an official upgrade of gold to Tier 1 status but some think it could come as soon as the third quarter of 2011. If an upgrade were to take place, it would likely have a profound impact on gold and gold equities. We anticipate that central banks around the world would add (some of them significantly) to their gold positions, which would further tighten gold supply and increase gold consumption.