Gold and silver prices surged in January having an even more spectacular month in foreign gold price terms. With the gold price rallying alongside the US Dollar, gold prices in currencies such as Canadian Dollars surged by 20%, rallying from C$1,375 an ounce to as high as C$1,650 at month’s end.

1-year Gold Prices: Canadian Dollar | Euro | Japanese Yen | US Dollar

The big news last month was the overnight surprise by the Swiss National Bank (SNB), removing the Swiss Franc/Euro currency peg. This was done just prior to the latest round of ECB money printing, which would have forced the Swiss to devalue the Swiss Franc even further. SNB holds nearly $1/2 trillion in foreign reserves – mostly from their Euro purchases since 2009.

….continue reading HERE