Swiss Franc Collapses 7% Against the USD, EUR and Gold – Swiss National Bank to Fix CHF to EUR and Debase Currency
Currency markets have seen massive volatility this morning after the Swiss National Bank decision to fix the Swiss franc to the euro.
Gold is trading at USD 1,899.50, EUR 1,339.10, GBP 1,177.30, CHF 1,611.10 (up from CHF 1,486.50 yesterday) and JPY 146,350 per ounce. Gold is down 0.18% in dollar terms and strong physical demand continues at these levels.
Just prior to the announcement, spot gold for immediate delivery had risen to a new record nominal high of $1,921.15/oz in early morning trading in Europe.