Gold and sliver prices dropped sharply in feverish electronic trade on Monday after voters in Switzerland rejected a measure that would have required the Swiss National Bank to ramp up its gold reserves to 20% of its holdings, up from 8%.By late Monday morning in East Asia, Comex gold for December delivery GCZ4, -2.12% was down $26, or 2.2%, at $1,149.20 an ounce in what looked to be the start of a turbulent week for the metal.
December silver SIZ4, -4.16% was hit even harder, dumping 69 cents, or 4.5%, to $14.80 an ounce.
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