After the (re)-establishment of the gold standard in 1944 Switzerland accumulated gold that reached a level of close to 5,000 tons by 1970, accounting for more than half the Swiss foreign exchange reserves and covering circulating paper money with . +41 44 213 62 45. by. swissinfo.ch. to concerns and criticism. Where the World Gold Council knows of movements that are not reported to the IMF or misprints, changes have been made. Singapore is my #1 choice for gold storage. + NGO condemns Swiss refiner over African gold imports. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Gold Reserves. Switzerland. This websites also uses 'cookies' to give you the most relevant experience while browsing. Total reserves (% of total external debt), Bank liquid reserves to bank assets ratio (%), Bank nonperforming loans to total gross loans (%), Account ownership at a financial institution or with a mobile-money-service provider, richest 60% (% of population ages 15+), Domestic credit provided by financial sector (% of GDP), Account ownership at a financial institution or with a mobile-money-service provider, poorest 40% (% of population ages 15+), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. The SNB sold off 1550 tonnes of Switzerland's gold between 2000 and 2008, at a time when the gold price was rising sharply. Consolidated Fiscal Balance: % of GDP (%), Forecast: Government Expenditure (CHF bn), General Government: Consolidated (Cons): Revenue (CHF mn), General Government: Cons: Expenditure (CHF mn), General Government: Cons: Net Lending/Borrowing (CHF mn), Gross Public Debt: General Government (CHF mn), Exports: Medicinal and Pharmaceutical Product (USD th), Imports: Medicinal and Pharmaceutical Product (USD th), Imports: ow Precision Instruments, Watches and Jewellery (CHF mn), Imports: ow Machinery, Equipment and Electronics (CHF mn), Exports: ow Precision Instruments, Watches and Jewellery: ow Watches (CHF mn), Exports: ow Precision Instruments, Watches and Jewellery (CHF mn), Exports: ow Machinery, Equipment and Electronics (CHF mn), Foreign Portfolio Investment: % of GDP (%), Foreign Portfolio Investment: Equity Securities (USD mn), Foreign Portfolio Investment: Debt Securities (USD mn), Forecast: Current Account Balance (USD bn), Net International Investment Position (USD mn), BoP: FA: Net Acquisition of Financial Assets (NA) (CHF mn), Balance of Payment (BoP): Current Account (CA): Net (CHF mn), BoP: CA: Credit: Goods and Services (GS) (CHF mn), BoP: FA: Net Incurrence of Liabilities (IL) (CHF mn), BoP: Financial Account (FA): Net (CHF mn), BoP: CA: Credit: Secondary Income (CHF mn), BoP: CA: Debit: Secondary Income (CHF mn), BoP: CA: Debit: Goods and Services (GS) (CHF mn), BoP: FA: IL: Portfolio Investment (CHF mn), BoP: FA: NA: Portfolio Investment (CHF mn), International Investment Position (IIP): Net (CHF mn), Foreign Direct Investment: Stock: Manufacturing (Mfg) (CHF mn), Foreign Direct Investment: Flow: Services: Trade (CHF mn), Direct Investment Abroad: Flow: Asia: ow China (CHF mn), Direct Investment Abroad: Flow: North America: Canada (CHF mn), Direct Investment Abroad: Flow: Europe: EU: ow Belgium (CHF mn), Direct Investment Abroad: Flow: Europe: EU: ow Austria (CHF mn), Direct Investment Abroad: Flow: Europe: EU: ow United Kingdom (CHF mn), Direct Investment Abroad: Flow: Services: Banks (CHF mn), Direct Investment Abroad: Flow: Services (CHF mn), Direct Investment Abroad: Flow: Mfg: Electronics, Energy, Optical and Watch (CHF mn), Direct Investment Abroad: Flow: Services: Finance and Holding Companies (FH) (CHF mn), Direct Investment Abroad: Flow: Manufacturing (CHF mn), Foreign Exchange Reserves: Months of Import (NA), Debt Service Ratio: Private Non-Financial Sector (%), Credit to Private Non-Financial Sector (USD bn), Monetary Base: Seasonally Adjusted (CHF mn), Official Reserve Assets: USD: Foreign Currency Reserves in Convertibles (FC) (USD mn), Switzerland Imports: cif: Advanced Economies: Vatican (USD mn), Switzerland Imports: cif: Euro Area (USD mn), Switzerland Exports: fob: Emerging and Developing Economies: Western Hemisphere: (USD mn), Switzerland Exports: fob: Advanced Economies: Vatican (USD mn), Switzerland Exports: fob: Euro Area (USD mn), Switzerland Imports: cif: Emerging and Developing Economies: Western Hemisphere: (USD mn), Switzerland GDP: 2010 Price: USD: Gross Value Added at Factor Cost: Services (USD mn), Switzerland GDP: Growth: Gross Value Added: Services (%), Switzerland Smoking Prevalence: Total: % of Adults: Aged 15+ (%), Switzerland GDP: % of GDP: Gross Value Added: Services (%), Switzerland GDP: % of GDP: Final Consumption Expenditure: Household (%), Switzerland GDP: % of GDP: Final Consumption Expenditure (%), Switzerland Electricity Production: Nuclear Power Plants (GWh), Switzerland Electricity Production: Thermal Power Plants and Others (GWh), Switzerland Electricity Production: ow Consumption of Storage Pumps (GWh), Switzerland Electricity Production: excl Consumption of Storage Pumps (GWh), Switzerland IPI: Mfg: Food, Beverages and Tobacco: Food and Beverages (1995=100), Switzerland IPI: Mfg: Food, Beverages and Tobacco: Tobacco (1995=100), Switzerland IPI: Mfg: Textiles and Textile Products (1995=100), Switzerland IPI: Mfg: Textiles and Textile Products: Textiles (1995=100), Switzerland IPI: Mfg: Textiles and Textile Products: Wearing Apparel (1995=100), Switzerland IPI: Mfg: Coke, Refined Petroleum Products and Nuclear Fuel (1995=100), Switzerland IPI: Mfg: Chemicals, Man-Made Fibres (1995=100), Switzerland IPI: Mfg: Rubber and Plastic Goods (1995=100), Switzerland IPI: Mfg: Other Non-Metal Mineral Products (1995=100), Switzerland IPI: Mfg: Basic Metals and Fabricated Products (1995=100), Switzerland IPI: Mfg: Electrical and Optical Equipment (EE) (1995=100), Switzerland IPI: Mfg: EE: Office Machinery and Computers (1995=100), Switzerland IPI: Mfg: EE: Other Electrical Machinery (1995=100), Switzerland IPI: Mfg: EE: Radio, TV and Equipment (1995=100), Switzerland IPI: Mfg: EE: Medical and Precision Instruments (1995=100), Switzerland IPI: Mfg: EE: Medical and Precision Instruments: Watches (1995=100), Switzerland IPI: Mfg: Transport Equipment: Motor Vehicles, Trailers, etc (1995=100), Switzerland IPI: Electricity, Gas and Water Supply: Energy Supply (1995=100), Switzerland IPI: Intermediate Goods Industries (1995=100), Switzerland IPI: Capital Goods Industries (1995=100), Switzerland IPI: Consumer Goods Industries: Durable (1995=100), Switzerland IPI: Consumer Goods Industries: Non Durable (1995=100), Switzerland Housing Rental Index: Dec 2005=100 (Dec2005=100), Switzerland Housing Rental Index: May 2000=100 (May2000=100), Switzerland Housing Rental Index: May 1993=100 (May1993=100), Switzerland Housing Rental Index: Dec 1982=100 (Dec1982=100), Switzerland Real Estate Price Index: Rental Apartments (1Q1970=100), Switzerland Real Estate Price Index: Rental Apartment: Old Building (1Q1970=100), Switzerland Real Estate Price Index: Rental Apartment: New Building (1Q1970=100), Switzerland Real Estate Price Index: Owner Occupied Apartments (1Q1970=100), Switzerland Real Estate Price Index: Single Family Homes (1Q1970=100), Switzerland Real Estate Price Index: Office Space (1Q1970=100), Switzerland Real Estate Price Index: Business Space (1Q1970=100), Switzerland Real Estate Price Index: Rental Apartment (1970=100), Switzerland Real Estate Price Index: Owner-Occupied Apartments (1970=100), Switzerland Real Estate Price Index: Zurich: Rental Apartment (1970=100), Switzerland Real Estate Price Index: Zurich: Rental Apartment: Old Building (1970=100), Switzerland Real Estate Price Index: Zurich: Rental Apartment: New Building (1970=100), Switzerland Real Estate Price Index: Zurich: Owner-Occupied Apartments (1970=100), Switzerland Real Estate Price Index: Zurich: Single Family Homes (1970=100), Switzerland Real Estate Price Index: Eastern Swiss: Rental Apartment (1970=100), Switzerland Real Estate Price Index: Eastern Swiss: Rental Apartment: Old Buildi (1970=100), Switzerland Real Estate Price Index: Eastern Swiss: Rental Apartment: New Buildi (1970=100), Switzerland Real Estate Price Index: Eastern Swiss: Owner-Occupied Apartments (1970=100), Switzerland Real Estate Price Index: Eastern Swiss: Single Family Homes (1970=100), Switzerland Real Estate Price Index: Central Swiss: Rental Apartment (1970=100), Switzerland Real Estate Price Index: Central Swiss: Rental Apartment: Old Buildi (1970=100), Switzerland Real Estate Price Index: Central Swiss: Rental Apartment: New Buildi (1970=100), Switzerland Real Estate Price Index: Central Swiss: Owner-Occupied Apartments (1970=100), Switzerland Real Estate Price Index: Central Swiss: Single Family Homes (1970=100), Switzerland Real Estate Price Index: North-Western Swiss: Rental Apartment (RA) (1970=100), Switzerland Real Estate Price Index: North-Western Swiss: RA: Old Building (1970=100), Switzerland Real Estate Price Index: North-Western Swiss: RA: New Building (1970=100), Switzerland Real Estate Price Index: North-Western Swiss: Owner-Occupied Apartme (1970=100), Switzerland Real Estate Price Index: North-Western Swiss: Single Family Homes (1970=100), Switzerland Real Estate Price Index: Bern: Rental Apartment (1970=100), Switzerland Real Estate Price Index: Bern: Rental Apartment: Old Building (1970=100), Switzerland Real Estate Price Index: Bern: Rental Apartment: New Building (1970=100), Switzerland Real Estate Price Index: Bern: Owner-Occupied Apartments (1970=100), Switzerland Real Estate Price Index: Bern: Single Family Homes (1970=100), Switzerland Real Estate Price Index: Southern Swiss: Rental Apartment (1970=100), Switzerland Real Estate Price Index: Southern Swiss: Rental Apartment: Old Build (1970=100), Switzerland Real Estate Price Index: Southern Swiss: Rental Apartment: New Build (1970=100), Switzerland Real Estate Price Index: Southern Swiss: Owner-Occupied Apartments (1970=100), Switzerland Real Estate Price Index: Southern Swiss: Single Family Homes (1970=100), Switzerland Real Estate Price Index: Lake Geneva: Rental Apartment (1970=100), Switzerland Real Estate Price Index: Lake Geneva: Rental Apartment: Old Building (1970=100), Switzerland Real Estate Price Index: Lake Geneva: Rental Apartment: New Building (1970=100), Switzerland Real Estate Price Index: Lake Geneva: Owner-Occupied Apartments (1970=100), Switzerland Real Estate Price Index: Lake Geneva: Single Family Homes (1970=100), Switzerland Real Estate Price Index: Western Swiss: Rental Apartment (1970=100), Switzerland Real Estate Price Index: Western Swiss: Rental Apartment: Old Buildi (1970=100), Switzerland Real Estate Price Index: Western Swiss: Rental Apartment: New Buildi (1970=100), Switzerland Real Estate Price Index: Western Swiss: Owner-Occupied Apartments (1970=100), Switzerland Real Estate Price Index: Western Swiss: Single Family Homes (1970=100), Switzerland GDP: CL 2000p: Global Demand (CHF mn), Switzerland GDP: CL 2000p: Domestic Demand (CHF mn), Switzerland GDP: CL 2000p: Final Domestic Demand (CHF mn), Switzerland GDP: CL 2000p: Final Consumption Expenditure: Personal (CHF mn), Switzerland GDP: CL 2000p: Final Consumption Expenditure: Government (CHF mn), Financial System: Deposit Money Banks: Annual, Financial System: Monetary Authorities: Annual, Financial System: Nonbank Financial Institutions: Annual, Switzerland Gold Reserves was reported at 60.825 USD bn in Dec 2022, This records an increase from the previous number of 58.738 USD bn for Nov 2022, Switzerland Gold Reserves data is updated monthly, averaging 39.143 USD bn from Jun 1999 to Dec 2022, with 283 observations, The data reached an all-time high of 65.861 USD bn in Aug 2020 and a record low of 17.580 USD bn in May 2005, Switzerland Gold Reserves data remains active status in CEIC and is reported by CEIC Data, The data is categorized under World Trend Pluss Global Economic Monitor Table: Gold Reserves: USD: Monthly: Europe and Central Asia. Gold Reserves are countrys gold assets held or controlled by the central bank. A new book exposes the dark history of gold laundering in Switzerland and the modern challenge of cleaning up a lucrative industry. Fear of being held to account for supporting apartheid led Switzerland to stop publishing official trade statistics on gold from 1981. A mine would bring an estimated 4 million dollars a year in revenue to the small local communities over the next ten years, but despite Europe being in the worst depression since WWII, the townsfolk still say no to the mines. The table has current values for Gold Reserves, previous releases, historical highs and record lows, release frequency, reported unit and currency plus links to historical data charts. What keeps the Swiss refineries going at full pace right now is not so much the demand for semi-finished products for jewellery and watchmaking, but the demand for gold bars. "As of December 31, 2022, the Group's internal control over financial reporting was not effective, and for the same reasons, management has reassessed and has . The Swiss National Bank is notable in that it still manages the 8th largest official central bank gold reserves in the world at 1,040 tonnes (7th largest in the world excluding the IMF). How was Switzerland able to carve out such a commanding position? Click to see the Top Forty Gold Holding Nations. The gold reserves of Germany are kept at Deutsche Bundesbank in Frankfurt am Main, the New York branch of the Federal Reserve Bank of the US, and the Bank of England in London. The information contained herein does not constitute investment advice and may be subject to correction, completion and amendment without notice. We are pleased to deliver decades of exceptional service to our distinguished clientele in over 80 countries. License : CC BY-4.0 Pieth also points out that gold trade was crucial for the survival of the South African apartheid regime. The country was also late coming off the gold standard and as recently as 1999 its constitution required the franc to be 40% backed by gold. Your data is used to pre-fill some form fields. Japan- 765.2 tonnes of gold. To get an idea of Switzerlands profile in the sector of gold refining and trading, consider another figure: the production of gold from all the mines in the world in 2011 amounted to 2,700 metric tons, according to data from the US Geological Survey. if (window.addEventListener){ window.addEventListener("message", function(event) { if(event.data.length >= 22) { if( event.data.substr(0, 22) == "__MM-LOCATION.REDIRECT") location = event.data.substr(22); } }, false); } else if (window.attachEvent){ window.attachEvent("message", function(event) { if( event.data.length >= 22) { if ( event.data.substr(0, 22) == "__MM-LOCATION.REDIRECT") location = event.data.substr(22); } }, false); }. Explore the most complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic sectors. Aug 23, 2011 Our journalists will take your contribution on board for their coverage and may follow up with you via email. Switzerland was one of the few places to buck this trend and maintained use of the Gold standard right up till May 1st 2000. Gold Reserves are countrys gold assets held or controlled by the central bank. This content was published on Oct 12, 2012 Our analysis of what the biggest global companies in Switzerland are up to. Join our discussions. If only half of what the media and NGOs report is correct, current due diligence standards and especially their implementation needs to be seriously reviewed, writes Pieth. 3 Federal Constitution). Instant access to full history data in excel. you know what, I calculate it to be about 59.5 billion dollars, if a country cannot afford that, then get out of the business, Hi lildpropmsv, a referendum in switzerland is not an opinion poll. Jun 18, 2019 In 2011, over 2,600 metric tons of raw gold were imported into Switzerland, to a value of over SFr96 billion, according to figures from the federal customs administration. 6 . In a discussion with swissinfo.ch, Pieth explained the history of how Switzerland came to be at the heart of a highly profitable but opaque trade. GDP (Rank): $660 billion (No. Sep 9, 2016 This trade benefitted Germany in particular, effectively turning Switzerland into an enabler of the German war effort. At that time, the central bank of . MAM's commitment to wealth preservation involves 100% direct client ownership of the highest quality precious metals, refined in Switzerland and stored in the world's most secure private vaults. Trading Economics welcomes candidates from around the world. The Swiss Attorney General established in 2013 that Argor-Heraeus, one of the big four Swiss refineries which used to be owned by the Union Bank of Switzerland (now UBS), had indeed refined several tons of gold from eastern Congo amid a genocide that killed as many as six million people. Please click the link in the e-mail to reset your password. How to Buy Austrian Silver Philharmonic Coins How to Buy American Silver Eagle Coins, How to Buy Perth Mint Silver Kangaroo Coins, How to Buy Canadian Silver Maple Leaf Coins. Investors have direct personal access to their holdings. If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch. Please click the link in the e-mail to reset your password. With a population of about 8.4 million, Switzerland is said to have the largest gold reserves per capita. If you are looking to purchase gold in Switzerland or simply want to see live gold prices, quotes will be seen in the local currency. The main reason for this is a historical one. Between 1990 and 2007, Switzerland imported between 1,000 and 1,600 metric tons of gold per year, with a value varying between SFr15.7 billion (1994) and SFr32 billion (2007). With our newsletters you get the top stories to your inbox. IFS data are two months in arrears, so holdings are as of December 2022 for most countries, November 2022 or earlier for late reporters. Indeed, until the year 2000, the Swiss currency was legally required to be 40 percent backed by the nation's gold reserves. It even went to a vote, losing by a wide margin. Pamp SA of Castel San Pietro (1977 MKS SA Geneva) has an annual refining capacity of 450 metric tons. The town even boasts about its gold museum which is located near the site of the old gold mine. First . You can compare prices and shipping costs from a variety of bullion dealers. Switzerland maintains the world's 8th largest official gold reserves, with holdings of 1040 tonnes of gold [1]. A multimedia journalist, Dominique Soguel began her international reporting career at Agence France-Presse covering the Arab Spring. If you continue to use this site we will assume that you are happy with it. The decision has been criticised as political and raised questions over the line between turning a blind eye versus should have known.. You acknowledge that Smaulgld assumes no responsibility for the integrity of data on this site. It has an annual refining capacity of about 650 metric tons. The gold in question is located in an area called the Medel Valley in the snow covered Alps about 2 hours southeast of Lucerne and close to the town of Disentis. Four of the worlds major refineries of gold are located on Swiss soil. API users can feed a custom application. Despite the fact that the towns are dying because all the young people need to go elsewhere to find jobs; the 450 or so locals voted to maintain the status quo and keep the miners away for the time being. Chart Disclaimer: Information presented here has been obtained from a third party and is presented for information purposes only. Definitely not just an opinion pole. Japan, with 765.2 tons of gold. 2 of the National Bank Act (NBA), the SNB is responsible for managing the currency reserves, part of which must be held in the form of gold (art. The minimum investment is $400,000 for the Zurich and Singapore vaults and $5M for the Swiss Alp vault. The Recovery in Reverse, How A Stock Market Crash Will End the Economic Recovery, What Happens After The Next Stock Market Crash Poll, Will Greater Adoption Mean Higher Bitcoin Prices, Why Saudi Arabia Matters in Helping to Keep the U.S. Dollar as The Worlds Reserve Currency. Swiss pledge to stop illegal gold imports from Brazil Indigenous reserves. Advanced users can use our Python/R/Matlab packages. In total, Switzerland likely has the highest amount of gold per capita in the world. People have had good luck prospecting in the Rhine River; yes, the same Rhine that runs through France originates in the Swiss Alps. Of all Swiss National Bank employees and former employees, Paprotta is probably the one person who is most familiar with the Swiss gold reserves and the sales programme, since, while he worked at . However, a Swiss referendum - the country has a vibrant and active . Click to Buy Silver Britannia coins from Money Metals Exchange. The Taliban have banned women from working for aid agencies. It follows other gold rich countries like Romania and Hungary in preventing exploration and mines. Gold is sprinting towards its best week in four months. The most recent financial statement posted online shows DAB holds total assets of about $10 billion, including $1.3 billion-worth of gold reserves and $362 million in foreign currency cash . the country's wider economy. If to this figure you add the gold coming from small businesses all over the world, which say we buy gold, and from illegal mines a figure not considered in official statistics, it would appear that two thirds of the worlds gold transits through Switzerland. Almost all major civilisations have prized gold over all other precious metals. The price of gold in the Swiss francs behaved similarly to the gold prices expressed in the U.S. dollar or euro, as the chart below shows. This content was published on Mar 6, 2023 The Swiss go to the polls on November 30 in a referendum that will lay down new rules for the countrys central bank concerning its gold reserves. In his book, Pieth unpacks the problems in the supply chains of refineries Metalor and Valcambi in South America and Africa, highlighting as he goes the limitations of existing due diligence standards and opportunities to interpret existing rules more strictly. 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