LATEST NEWS: Fears that ‘dangerous’ Switzerland referendum could spark gold rush

The Swiss like referendums: there were 11 last year and there have been nine more this year, on subjects ranging from who pays for abortions to whether the state should buy a certain type of new fighter aircraft. This Sunday there are three more, but one has attracted more attention than most – because there […]

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LATEST NEWS : UPDATE 2-Swiss regulator flags attempt to manipulate bullion benchmarks

Switzerland’s financial watchdog said on Wednesday it had found a “clear attempt” to manipulateprecious metals price benchmarks during a cross-market investigation into trading at UBS bank. The FINMA regulator revealed its findings just days after the precious metals industry decided to automate the setting of reference prices for gold, ending the twice-daily “fix” by a […]

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LATEST NEWS : Will The Swiss Vote to Get Their Gold Back?

On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank (SNB) from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20 percent of the SNB’s […]

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LATEST NEWS : SNB Won’t Exclude Negative Interest Rates, Spokesman Meier Says

The Swiss National Bank is willing to take further measures such as negative interest rates if pressure on the franc intensifies, spokesman Walter Meier said today. “If needed we would take extra measures, with a negative rate a conceivable option,” Meier said by phone from Zurich, adding that this was the SNB’s standard comment. The […]

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LATEST NEWS : Swiss host Chinese central bank to discuss renminbi hub plan

Switzerland touted its qualifications to be a hub of renminbi trading on Friday, as its central bank chief and finance minister hosted People’s Bank of China (PBOC) Governor Zhou Xiaochuan at a private event for Swiss and Chinese bankers. continue reading at reuters.com

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LATEST NEWS : Shrouding China's gold trade, more imports go under radar

 Banks have started trial gold imports directly into the Shanghai free trade zone ahead of the launch of a gold exchange there, threatening to further obscure the level of buying by the world’s top consumer. The bulk of gold bought by China used to flow through Hong Kong, making its export data a useful proxy for […]

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Germans Hide Cash in Diapers as Swiss Secrecy Crumbles

“Germans who avoided taxes by keeping money in Switzerland are bringing wads of cash home and hiding it in odd places. With Swiss banks the target of an international crackdown against tax evasion, the government wants the industry to stop managing undeclared funds. This requirement, combined with high-profile cases such as Bayern Munich President Uli […]

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Americans Giving Up Passports Jump Sixfold as Tougher Rules Loom

“Americans renouncing U.S. citizenship surged sixfold in the second quarter from a year earlier as the government prepares to introduce tougher asset-disclosure rules. Expatriates giving up their nationality at U.S. embassies climbed to 1,131 in the three months through June from 189 in the year-earlier period, according to Federal Register figures published today. That brought […]

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