| The Swiss might be responsible for bringing early holiday cheer to gold bulls this year by delivering a big boost to bullion demand. On November 30, the people of Switzerland will vote on a referendum that could force the Swiss National Bank (SNB) to reverse a selling spree of the country’s gold reserves.
Switzerland still has large bullion holdings, but the country used to own a lot more of the precious metal. The SNB began selling its gold around the year 2000 when prices were extremely low. The selling continued through 2008 and the Swiss gold reserves now represent just 8% of the Swiss National Bank’s assets..........................................Full Article: Source
|