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19 September 2018 at 8:36 GMT
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Morning Call: Trump hits China with tariff plan
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18 September 2018 at 7:29 GMT
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The week ahead in macro
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17 September 2018 at 8:11 GMT
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Macro Monday week 38: Keep Global Macro and Carry On
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17 September 2018 at 7:23 GMT
43:30
Technical analysis webinar – A view of the market: Larsson
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12 September 2018 at 14:44 GMT
11:15
Morning Call: Chinese shares fall further
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11 September 2018 at 8:36 GMT
11:34
Morning Call: USD, SEK in focus
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10 September 2018 at 7:49 GMT
2:47
The week ahead in macro
Kay Van-Petersen
10 September 2018 at 7:37 GMT
14:02
Morning Call: Is Japan next?
#SaxoStrats
07 September 2018 at 7:35 GMT
Video / 02 October 2014 at 9:47 GMT

Are you aware of the potential Swiss gold shock?

Ole Hansen
A major shock could be on its way which could dramatically change the gold price. In late November, a referendum in Switzerland could force the Swiss National Bank to hold far more gold reserves.

Should there be be a ‘Yes’ vote, the so-called "gold initiative" would seek to stop all gold sales by the Swiss National Bank (SNB) and require the central bank hold 20 percent of its assets in the precious metal. The Swiss Parliament and the SNB are against it, as this would stop their ability to freely print money and reduce its maneuverability in the market.

Saxo Bank's Head of Commodity Strategy, Ole Hansen explains that such an event would have a "huge" impact on the gold market. The SNB would have to buy thousands of tons of gold over the next three years, which could usher in significant levels of gold buying. 

Join the conversation below to be a part of the social trading experience.
5y
ssivis ssivis
Yes yes yes :-)
5y
dundee dundee
whats that mean.. gold price going up..?? is it good buy gold now for longterm...?
5y
Jon Boylan Jon Boylan
Ole, have you seen any polls yet on how population is leaning? Yes or No?
5y
Omar El Araby Omar El Araby
I am not an expert but I am swiss and by experience I know that people here usually vote against this kind of reforms, as they are pretty liberal when it comes to this kind of decisions, moreover such a constraint would eventually harm swiss economy.

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