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Well I think the market has been assuming the Swiss would reject the referendum so I wouldn't expect this to have a big impact on the price of gold, but maybe a little at the margin because of those who were playing the roulette wheel. Gold is up this morning but I'd guess that mostly related a bit of strength in crude oil and weakness in the dollar.
Gold +3%. I - as well as I think many others - doubted that people would vote for a return to anything resembling a currency backed by gold or anything else. The Swiss are all too happy, it seems, to peg to the Euro.
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