Gold slides as Swiss support for referendum wanes

Gold retreated on reports Wednesday that support for a Swiss referendum to require the country’s central bank to hold 20% of its reserves in gold bullions is losing momentum.
Gold for December delivery GCZ4, -1.34%  slid $3.20 to settle at 1,193.90 an ounce. In electronic trading, gold had slumped as low as $1,173.90 an ounce before bouncing back.