SNB to Print More Swiss Francs: Gold Price to Rise

Gold Investment - 12 September 2011

An unlimited amount of Swiss Francs will be printed by the Swiss National Bank (SNB) so that the currency is restricted in terms of rising; the bank declared that the Swiss Franc will be capped against the Euro. This will most definitely ensure that gold rises in value. The Swiss National Bank declared that an over-inflated Swiss Franc was a real threat to the economy in Switzerland. It is for this reason that the bank wishes to weaken the currency in the country.

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There will no longer be the situation whereby the EUR/CHF exchange rate will be lower than the lowest rate of CHF 1.20. This is so that deflation does not become the order of the day. It has been announced that this will be enforced with the strongest measures possible. The bank is even happy to purchase unlimited amounts of foreign currency.

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Invest in precious metals today! Contact us for details.

The Swiss Franc remains high at the rate of CHF 1.20 per Euro. It is envisaged that in time, the Swiss Franc should continue to weaken. Should deflation persist and the economy continues to deteriorate, more drastic measures would be implemented. In August, the Swiss Franc was close to the Euro. This was because the capital flight from European banks, forced the Swiss Franc to escalate in value out of proportion last year. After this news, the Swiss Franc's Euro exchange moved in line with the cap of the Swiss National Bank.

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