Swiss gold

Get this, the Swiss are about to have a referendum on increasing their gold reserves from 8% of their central bank assets to 20%.

That’s about 1800 tonnes of gold at a cost of over $70b. That’s over four times the cost of their post 2000 sell-off of gold assets.

Why? An emotional attachment to the yellow metal as a ‘real asset’ unlike electronic script over shares, derivatives and similar.

If they do this, the world gold price is expected to appreciate by around 20%.

I would advise them to mine it rather than buy it. Or just buy a big gold miner. Much more fun.