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Franc falls before the golden referendum

Author: finanse.wp.pl
Address: http://finanse.wp.pl/Frank-spada-przed-zlotym-referendum
Published: 27.11.2014

The possibility of the Swiss franc going below 4 PLN and its consequences for many families' financial situations was broadly discussed at the end of October. This scenario was set forth in relation to the 'golden referendum'. However, the just before the voting all the excitement seems to have faded out.

One month ago some of the analysts warned about the success of the supporters of getting Switzerland closer to the standard of the gold reserves being a problem for Poland. All this happened because of the franc's expected strengthening if the Swiss National Bank has to rebuild its currency reserves, so that 20 percent of it is invested in gold.

Piotr Lonczak, Cinkciarz.pl analyst

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