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Message: Markets

Here's some little known news (for now) that could have at least a supporting impact on POG, if not something much stronger than that. This should have a somewhat similar effect on other metals prices too.

EXTRACT:

In a research note published Sept. 24, Analysts at UBS said that if the referendum passes the Swiss National Bank would have to buy about 1,500 tons of gold over the next three years. “1500 tonnes equates to half of the world's annual production,” they said in the report.

“That kind of gold buying would put what we’ve recently seen in China to shame,” said Hansen.

The UBS analysts also noted that so far the referendum has not attracted a lot of attention outside of the country.

http://www.kitco.com/news/2014-09-30/Swiss-Gold-Referendum-Attracting-Attention-Two-Months-Ahead-Of-Vote.html

I would think that as we near the time for the Swiss to vote on this issue, poll results on voter sentiment will have already effected POG. By how much remains to be seen.

VP

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