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Swiss Bank Sells Half It's Gold As Precious Metal Prices Reach All-Time High

Video Credit: Wochit News - Duration: 00:34s - Published
Swiss Bank Sells Half It's Gold As Precious Metal Prices Reach All-Time High

Swiss Bank Sells Half It's Gold As Precious Metal Prices Reach All-Time High

Business Insider reports that Swiss private bank Lombard Odier sold half its gold position.

The move comes despite its surge to record levels.

The bank's chief economist Samy Chaar said: "We see a bit of vulnerability at the current price levels." Chaar said the negative economic outlook in the US was not sustainable.

He said real interest rates will eventually recover and that could keep gold prices volatile.


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