Gold Priced In Swiss Francs Is Finally Breaking Out
You’ll notice that gold/CHF traded in a well-defined range between 2,050 and 2,225 for five months. I’ve been stating that a breakout from this range would serve as a particularly strong bullish signal for gold. Switzerland, with its numerous mints, refiners, vaults, and a robust gold trading and banking sector, is a key hub in the global gold industry. Such a breakout is likely to have a significant psychological impact on the Swiss gold industry. Sure enough, the breakout has finally happened.
One reason it took longer for gold/CHF to break out compared to other currencies is that the Swiss franc has been one of the world’s top-performing major currencies this year, making the recent gold/CHF breakout even more momentous.
https://www.zerohedge.com/precious-metals/gold-priced-swiss-francs-finally-breaking-out