Why Buy Gold?

The question as to whether or not it's a wise decision to buy gold has been asked in the mainstream media for quite some time.   I say the answer to that question depends on what the central banks are doing since they have a direct effect on what happens to the value of their country's currency.

The central banks are now net buyers of gold and the Bank of Internal Settlements that guides the central banks of the world is considering making gold a Tier 1 core asset that all banks should have as part of their assets instead of gold's current Tier 3 status as of this writing.  If all the central banks are doing the complete opposite of what the mainstream wall street pundits say by buying gold, who would you believe?  The people who actually directly affect the value of their fiat currencies or the guys on wall street who just talk about what they think might happen?