| A week of exceptional volatility culminated on Thursday with the shocking move by Switzerland’s central bank. The removal of the Swiss franc’s peg to the euro triggered an unbelievable rush of buy orders into the currency, pushing it as much 40 percent higher against the euro before settling back to a 19 percent gain. By then, however, the damage to market confidence had been done and a major risk-off move had swept across most asset classes, including commodities.
Precious metals saw the biggest gains of the week with both silver and gold dislocating further from the ongoing rise of the dollar. The Swiss move has been interpreted as a precursor for the full scale introduction of quantitative easing by the European Central Bank next Thursday................................................Full Article: Source
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