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Gold initiative

The popular initiative 'Save our Swiss gold' (gold initiative), which was put to the vote on 30 November 2014, demanded that the share of gold in the SNB's assets be increased to at least 20%. Gold was not to be sold and was to be physically stored in Switzerland only. Both the Federal Council and the Swiss parliament rejected the initiative, as did the SNB. Below you will find information outlining the reasons for the SNB's position.

The most important points in brief
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The SNB’s arguments
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Swiss National Bank statement on the outcome of the vote
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Further information is available in German and French only.