The Swiss Population Hoards Old Gold Worth 17 Billion Francs
Published: Tuesday, Oct 10th 2023, 11:20
Aktualisiert am: Freitag, 13. Oktober 2023, 14:12
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According to a survey conducted by the University of St. Gallen (HSG), two thirds of the population are in possession of old gold, mostly in the form of jewelry. The estimated total value of this gold is 17 billion Swiss francs. 66% of the 2,600 surveyed people reported owning jewelry made of the precious metal. On average, the respondents estimated the value of their gold jewelry to be 2,376 francs per person. This amounts to a total weight of 319 tons of gold, which is significantly less than the 1,040 tons of gold held by the Swiss National Bank (SNB).
The survey also found that more than half (52%) of the respondents had sold their gold at least once. The main reason for this was the need for quick money. Most of the sellers were satisfied with the price they received, although this could be due to the fact that many people underestimate the value of their gold jewelry.nn
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