The Swiss buried 10 tons of gold

The Swiss buried 10 tons of gold

Gold is a good asset refuge because it represents insurance in case of life’s difficulties, and therefore it is not surprising that a large number of Swiss own this precious metal.

A recent survey by the University of St. Gallen found that 65.2 percent or two-thirds of 3,000 respondents in Switzerland believe that investing in precious metals is reasonable. In fact, gold is one of the favorite forms of investment for residents of this rich country, but real estate, stocks and bonds still lead the way.

Professor of economics at the University of Fribourg, Sergio Rossi, is not surprised by the interest of his fellow citizens in gold. According to him, political and macroeconomic changes cause concern throughout the world, including in Switzerland.

“There are inflationary pressures that cause fear of a decline in the value of savings in banks. Gold has a reputation as a safe investment that does not lose value. People, who can afford it, buy gold to maintain or even increase their assets,” adds Rossi.

He noted that the wealth of the average Swiss is much higher than in many other countries. As he stated, the Swiss can buy tons of gold, which is difficult or impossible in many other countries.

The population of Switzerland keeps 200 tons of gold

The aforementioned research resulted in impressive numbers. Namely, it was determined that 22 percent of respondents have an average of 100.83 grams of gold worth 7,500 francs.

It is estimated that there is a total of 200 tons of gold worth 14.9 billion francs among the population of Switzerland. Furthermore, the research found that 43 percent of those who would sell gold only in an emergency.

The Swiss could be compared to pirates in the way they hide their gold. Namely, five percent of those who said that they buried him in the garden. It is estimated that there are ten tons of gold worth 750 million francs underground.

In addition, 15 percent of those who said that they keep the precious metal hidden in the house, while 18 percent of those who keep it in a home safe.

Professor Rossi said he was surprised to learn that people were still burying gold and that this was an indication of distrust in banks.

Source: Klix, BIZLife

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