Swiss public reject gold initiative

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The Swiss public has decisively rejected proposals that would have forced the country's central bank to hold 20% of its assets in gold, and prevented it from ever selling bullion.

Moreover, the proposals – known together as the 'Save our Swiss Gold' initiative – would have forced the Swiss National Bank (SNB) to repatriate any gold held overseas.

In a public referendum 77.3% of 2.55 million voters rejected the initiative. The size of the margin was a surprise, with polls suggesting the result

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