LONDON, 1 December 2014 – Swiss voters' decisive "No" to new central-bank gold proposals on Sunday signals growing fears that Europe's economy is sliding into deflation, says BullionVault head of research Adrian Ash in a new interview with IG Index, the leading UK spread-betting provider.
"Short term the vote means little for gold prices," said Adrian by phone from BullionVault's offices in London.
"But longer-term the size of the 'No' vote says the Swiss population is very happy with what central banks are doing. Trying to cap QE [money creation] was the target of the proposals. So this result says deflationary psychology is bedding in."
Watch the video from IG Index here:
Swiss say 'no; to increasing gold reserves but Russia continues to buy
Source:
IG Index
