26.11.2014 - Gold holds around $1,200/oz
Gold rose to around $1,200 an ounce on Tuesday as the dollar was steady ahead of US economic data, and the market looked to forthcoming Swiss referendum on central bank gold reserves for more trading cues. A right-wing Swiss party called the November 30 vote, aiming to prevent the Swiss National Bank from offloading its gold holdings and obliging it to hold at least 20% of its assets in gold, compared with 8% last month. While opinion polls showed that support among Swiss voters for the initiative was fading, a ‘yes’ vote could boost prices in the longer term, traders said. The spot gold price fell to a four-and-a-half-year low earlier this month.................................Full Article: Source
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