"It's a thin market and people are getting very jittery about the possibility of SNB intervention ," a London-based trader said.The Swiss National Bank declined to comment on the move, as did the Bank for International Settlements,

Crude oil fell for a fifth day as the dollar clawed higher against the euro, damping demand for commodities as an alternative investment.

Gold hit a record $1,065.25 an ounce in Europe on Tuesday as the dollar fell to day lows versus the euro, fuelling interest in bullion asan alternative asset.