The Swiss National Bank has no plans to alter the level of its gold reserves, chairman Martin Schlegel said at the central bank\u2019s shareholders\u2019 meeting on Friday.<\/p>\n
The SNB holds 1,040 tonnes of gold, 70% of which it stores in Switzerland and 30% abroad, Schlegel told the event in Bern.<\/p>\n
\u201cWe have no plans either to increase or to reduce our gold holdings. Especially over the past year, gold has of course performed well in the context of the portfolio,\u201d Schlegel said.<\/p>\n
\u201cLast year\u2019s profit was driven to a significant extent by gold. That means it makes sense to hold a certain share in gold from a diversification perspective as well,\u201d he added.<\/p>\n
(By John Revill; Editing by Miranda Murray)<\/p>\n
Disclaimer:\u00a0The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and\/ or damages arising from the use of this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"The Swiss National Bank has no plans to alter the level of its gold reserves, chairman Martin Schlegel…\n","protected":false},"author":2,"featured_media":55416,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[4],"tags":[4925,4914,4918,2971,4913,4922,4916,4915,4917,4923,4906,4924,1030,4905,4926,3826,4927,1682,4909,4910,4908,4911,69,4912,4921,4928,4907,41,17,4920,4919],"class_list":["post-55415","post","type-post","status-publish","format-standard","has-post-thumbnail","category-switzerland","tag-bank-forecasts","tag-bitcoin-news","tag-central-banks","tag-charts","tag-crypto-news","tag-currency","tag-economic-reports","tag-ethereum-news","tag-forecasts","tag-global-economy","tag-gold","tag-international-policy","tag-interviews","tag-kitco-news","tag-market-nugget","tag-metals","tag-mining-minutes","tag-mining-news","tag-palladium","tag-pgm","tag-platinum","tag-platinum-group-metals","tag-politics","tag-precious-metals","tag-rare-earth-metals","tag-roundups","tag-silver","tag-swiss","tag-switzerland","tag-tech-metals","tag-us-dollar"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116464091385174264","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/55415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=55415"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/55415\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/55416"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=55415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=55415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=55415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}