Weekly Fundamentals – SNB’s Decision Diverted Safe Haven Demand to Gold

The focus last week was SNB’s sudden withdrawal of the EURCHF floor of 1.2 and further reduction of interest rates. This move has greatly intensified speculations that the ECB would announce extension of asset purchases in the meeting next week. The commodity most affected SNB’s decision was gold which rallied more than +5%.

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Weekly Fundamentals – SNB’s Decision Diverted Safe Haven Demand to Gold