A non-scientific poll conducted Tuesday by UBS of its clients and colleagues shows nearly a third of respondents are “very interested” in an upcoming Swiss gold initiative while 30% are “’somewhat interested,” UBS says. The remaining 39% expressed no interest, which the bank says is likely because the consensus expectation is that the vote will fail. UBS cites the results of an opinion poll Wednesday commissioned by Swiss TV showing the Initiative is unlikely to pass. Support has declined to 38% from 44% on Oct. 24, while opposition has increased to 47% from 36% previously. The remaining 15% are either undecided or did not respond, down from 17% in the previous survey, UBS says. This poll has been highly anticipated as it is the most scientific one available, and UBS says it gives a good indication of voter sentiment in the country. “The decline in support for the initiative therefore does not come as surprise. The results provide the market with reassurance heading into the Nov. 30th vote and diminish gold’s upside risks,” they say.
