Gold on track for $1,300 following removal of cap on Swiss franc

Gold It is likely to break the US $ 1,300 investors rush to hedge risks and buy safe-haven assets in the wake of the Swiss currency disorders. “I got people to get rid of dollars, and bought gold after the Swiss franc move and drop the euro,” said Mohammed Shakarchi, owner of Gold Emirates Dubai-based refinery. “Everyone has been affected by what was done by Switzerland.” Since the SNB’s surprise move on Thursday to abandon the roof of the franc against the euro and gold it has advanced more than 4.5 per cent. Spot gold closed transactions in the $ 1,275.50 on Friday on theRead More →