Basel 3 Shows Big Powers Want Gold to Replace Dollar, Naylor-Leyland Says
- Basel 3 Shows Big Powers Want Gold to Replace Dollar, Naylor-Leyland Says
British gold fund manager Ned Naylor-Leyland is the guest on Sprott Money’s “Ask the Expert” program this month, and interviewed by host Craig Hemke, Naylor-Leyland says the new “Basel 3” protocols for gold derivatives held by banks suggest that the G-20 powers and the Bank for International Settlements want gold to replace the U.S. dollar as the world’s “risk-free instrument.”
Central bank demands for repatriation of their gold from foreign depositories jumped when the “Basel 3” protocols were first devised, Naylor-Leyland says. So, he adds, the protocols eventually will have an affect on the gold price. Hemke’s interview with Naylor-Leyland is 21 minutes long and can be heard at YouTube above.
Precious metals portfolio manager Ned Naylor-Leyland joins us to answer your questions regarding gold, silver and the mining shares.
0:00 – Introduction
2:20 – Decline of gold mining shares
7:09 – Industrial demand vs retail physical demand for silver
8:56 – Basel III changes and long-term impact on gold price
11:09 – Newfoundland Gold mining
14:10 – Royalty companies vs mining companies
16:14 – What must happen so gold and silver prices get back to summer 2020 levels
20:05 – Outro