Estimates say that the citizens of the Swiss Confederation hold a total of 920 tons of gold. The gold reserves of its central bank add another 1,040 tons. Besides, an enormous amount of gold guarded in the vaults of the country’s banks. The amount of gold in private hands amounts to about 231 grams per citizen. As a result, Swiss citizens own the highest amount of this precious metal.
Jan Nieuwenhuijs, the precious metals analyst, stated that the swiss population possesses a total of 920 tons of gold. This, together with the 1,040 tons in the hands of the Swiss National Bank, means that Citizens of this country have the highest amount of gold per capita in the world, which amounts to 231 grams.
This estimate is from a study on gold in private hands in Switzerland from last March by the University of Saint Gallen, on behalf of the company Philoro Schweiz AG.
The study included a survey of 2,286 citizens of the country’s German, French and Italian-speaking cantons. According to the results of this survey, the main motivation of the Swiss to save on physical gold is to have a long-term investment (53%), followed by security (39%) and financial stability (34%).
The study revealed that the country has the largest gold reserves
According to the study, the Swiss invested 1,420 million Swiss francs (1,553 million dollars) in gold, which is equivalent to a saving rate of 11.6%.
As Nieuwenhuijs explains, 920 tons of gold in private hands does not include all the gold in Switzerland. The country is known for having the largest refining facilities for precious metals in the world. Besides, numerous vaults that guard the gold of foreign citizens.
Compared to other countries, Switzerland’s 920 tonnes of gold may seem modest. The analyst’s estimates of gold in private hands in other countries suggest that there are 24,500 tons in India; 20,398 in China; 8,918 in Germany; 5,707 in Italy; and 4,605 tons in France.
However, Switzerland has a much smaller population than these countries. The country’s population is estimated at only 8.57 million, compared to 1.35 billion in India, 1.395 billion in China, 83 million in Germany, 60.3 million in Italy, and 67 million in France. Therefore, the amount per capita is much higher. In addition to these 920 tons in the hands of Swiss citizens, the country’s central bank has gold reserves of 1,040 tons.