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MAY 05, 2014 - TheStreet

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Gold Looks Ready to Break Out

NEW YORK (TheStreet) -- Monday the Swiss parliament urged rejection of a popular initiative that would curtail the Swiss National Bank's independence by requiring it to hold a fixed portion of at least 20% of its assets in gold.At the same time, the initiative requires that all the SNB gold be held in Switzerland. In November, the government also recommended that the popular initiative be opposed. According to Swiss Finance Minister Eveline Widmer-Schlumpf, the initiative "reduces the credibility of the SNB's policy and limits its ability to act when it's necessary." No date for a national ... Read More

Tags: Gold Looks Ready to Break Out,  International Monetary Fund Latest News