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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

'Yes' vote in Swiss referendum not certain to lift gold prices, Deutsche Bank says

By cpowell
Created 2014-11-17 19:02

By Jan Harvey and Anirban Nag
Reuters
Monday, November 17, 2014

LONDON -- A vote in favour of boosting Switzerland's gold holdings at a Nov. 30 referendum won't necessarily lift bullion prices, Deutsche Bank said in a note, adding there was a "considerable" chance the motion would pass.

The Swiss National Bank could spread out its gold buying, take transactions off market, or use derivatives to cushion gold prices from the impact of a "yes" vote, Deutsche said.

The "Save our Swiss gold" proposal, spearheaded by the right-wing Swiss People's Party, would force the SNB to hold at least 20 percent of its assets in gold, make it repatriate gold held overseas and commit never to sell bullion. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/11/17/swiss-gold-referendum-idUSL6N0... [1]



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