Gold Reverses on Profit-taking, SNB's Deflation Rhetoric

Financial markets traded with great Tuesday. Concerns over debt problems in the Eurozone remained, sending European bourses -1% lower. Wall Street also fell with DJIA and S&P 500 losing -0.90% and -0.74% respectively. The biggest event happened during the day was SNB's intervention. The central bank announced, with immediate effect, it will no longer tolerate a EUR/CHF exchange rate below 1.20 as is prepared to purchase foreign exchange in 'unlimited quantities'.

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Gold Reverses on Profit-taking, SNB's Deflation Rhetoric