WSJ: Gold Spikes on Swiss Franc Stunner “It’s a golden day for precious metals”

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Gold, silver, platinum and palladium are spiking after the Swiss National Bank surprisingly announced it’s scrapping its currency floor and lowering its already negative interest rate. The news hit the tape shortly before 4:40 a.m. New York time, sending gold up roughly $35 to $1261 a troy ounce.

“Gold is much stronger as the “safety” of the Swiss Fran vanishes,” commented Dave Lutz of JonesTrading…MORE (

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