``Citing projections from results in 19 of the country's 26 cantons, Swiss television said roughly 78% of voters opposed the initiative, dubbed "Save Our Swiss Gold." The gold initiative would have also barred the Swiss National Bank from selling gold in the future if it passed.'' -- It will be interesting to see what happens to the gold price now. This initiative never really had a chance to pass; yet in the same week, India surprised by dropping a major gold import curb. The net result should be a strong rally for gold. If that does not happen, inquiring minds should be asking why....

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