Keystone
It is estimated that around 200 tons of gold, worth almost 15 billion Swiss francs, is privately owned in Switzerland. The owners store a fifth of this at home.
This is the conclusion of the “Precious Metals Study 2024” conducted by the University of St.Gallen (HSG) on behalf of the precious metals dealer Philoro. Based on a survey of 3,000 participants, the HSG estimates that around 22 percent of the population owns an average of around 101 grams of gold per capita, worth CHF 7521.
However, gold in the form of jewelry was not taken into account.
Less popular
However, the popularity of the yellow precious metal has been declining for years – despite the rise in the price of gold. According to Sven Reinecke, head of the HSG study, only 28 percent of respondents currently prefer precious metals as an investment. Real estate (47.6%) and the classic savings account (34.2%) were much more popular.
Nevertheless, a majority of 65% of respondents consider gold and other precious metals to be a “sensible” investment. The main reasons given for this were the stability and long-term nature of the investment.
A large proportion of gold owners also continue to trust banks when it comes to storing their precious metal. For example, 39 percent of investors rely on bank safes, while around 18 percent use a safe at home.
Mostly distress sales
When privately owned gold is sold, this is usually done out of necessity. For example, 43 percent of those surveyed who have already sold precious metals cited an “emergency sale” as the reason.
However, more and more gold owners are now selling at least part of their holdings in order to realize a profit. According to Reinecke, their share has increased compared to previous studies.
“The sharp rise in the price of gold and the media coverage of it have probably contributed to the fact that the return on the yellow precious metal has come more into focus recently,” said Christian Brenner, Managing Director of Philoro Switzerland.
SDA