Gold fell from a record in London as some investors sold metal to cover losses in the Swiss franc after the country’s central bank imposed a ceiling to the exchange rate.
The Swiss franc tumbled after the bank set a minimum exchange rate of 1.20 per euro and said it will defend the target with the “utmost determination” if needed. Ministers from Germany, Finland and the Netherlands will meet today to discuss a Finnish demand for collateral in a bailout for Greece, while the Italian Senate will debate an austerity plan amid a strike.
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