Gold Regains Premium to Platinum as Swiss Move Rattles Investors
Bloomberg - Jan 19, 2015
Switzerland’s surprise move to end the cap on the franc has pushed gold above platinum by the most in almost two years.
Gold reached a four-month high earlier Monday in London, before erasing gains. The Swiss National Bank decided on Jan. 15 to let the currency trade freely against the euro. Investors boosted gold holdings by the most in three years at the end of last week.
“There’s a lot of uncertainty, risk aversion, and seeking a refuge,†Robin Bhar, an analyst at Societe Generale SA in London, said by phone. “These are the very ingredients that gold thrives on.â€
