GenevaLunch » price of gold

Swiss central bank shows Q3 profit of CHF5.8b despite high franc

Ellen Wallace — Mon, 31 Oct 2011 09:52:23 +0000

GenevaLunch.com ZURICH / BERN, SWITZERLAND – The Swiss National Bank is showing a consolidated profit of CHF5.8 billion for the first nine months of the year, thanks primarily to gold prices. The profit was achieved despite an over-valued Swiss franc that caused losses of CHF4.7 billion. Other currency positions resulted in gains of CHF5 billion, giving [...]

Swiss central bank shows Q3 profit of CHF5.8b despite high franc © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

The curious case of Vietnamese gold’s impact on Swiss trade balance

Ellen Wallace — Fri, 22 Jul 2011 11:33:52 +0000

GenevaLunch.com BERN, SWITZERLAND – Deep in the trade figures published 20 July by the Swiss government is a note that imports were down largely because no gold was imported from Vietnam. Switzerland melts down the gold for use mainly as bullion, although some is used by the watch industry and increasingly, by the electronics industry. Switzerland [...]

The curious case of Vietnamese gold’s impact on Swiss trade balance © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Gold rises to record $1,600/ounce

Ellen Wallace — Tue, 19 Jul 2011 08:48:14 +0000

GenevaLunch.com GENEVA, SWITZERLAND – The price of gold, like the Swiss franc, continues its meteoric rise, reaching the record price of $1,600 an ounce as worries grow about the US debt ceiling negotiations and sovereign debt in several European countries. One-ounce gold US eagle coins are selling like hotcakes in New Orleans, reports USA Today. By [...]

Gold rises to record $1,600/ounce © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Rising Swiss franc a headache for businesses

Nicholas Bates — Sat, 04 Dec 2010 18:39:44 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) - The Swiss franc rose again against the US dollar, the euro and the British pound, 3 December 2010. The dollar slipped back under the franc in the wake of pessimistic figures on employment, while the euro fell amid a background of fears over the credibility of bailout packages for Greece, Ireland, [...]

Rising Swiss franc a headache for businesses © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Swiss central bank expects half-year loss

Ellen Wallace — Wed, 21 Jul 2010 07:38:43 +0000

GenevaLunch.com UBS stabilization fund not included: will make “significant positive contribution” Zurich, Switzerland (GenevaLunch.com) – The Swiss National Bank expects a CHF4 billion loss for the first half of 2010, it announced Tuesday morning 21 July. The loss is the result of its active role in foreign currency markets from January to June, with CHF132b invested [...]

Swiss central bank expects half-year loss © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Swiss franc climbing again

Ellen Wallace — Tue, 11 May 2010 20:20:18 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) - The Swiss franc rose against most other currencies Tuesday 11 May, while the euro wobbled: a rise in Swiss consumer confidence boosted the Swiss currency, while doubts surfacing in the wake of the eurozone bailout weakened the euro. The franc has been steadily appreciating against the euro, with the Swiss central [...]

Swiss central bank results boosted by gold, improved markets

Ellen Wallace — Fri, 13 Nov 2009 08:57:30 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) – The Swiss National Bank (SNB) had cumulative profits for 2009 of CHF6.9 billion at the end of September 2009 thanks to the continuing high price of gold, improvements in financial markets and low interest rates that resulted in valuation gains in both gold and foreign currency investments. Gold accounted for CHF3.8 [...]

Swiss central bank results boosted by gold, improved markets © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Rich investors rush into gold, could push price back to $1,000 ounce

Ellen Wallace — Tue, 10 Feb 2009 10:07:52 +0000

GenevaLunch.com Rich investors are hoarding their gold, sometimes keeping it in their own vaults, the Financial Times quotes analysts as saying, as “safe haven” buying of gold and in particular gold coins continues to push up the price. It’s currently trading at $892 an ounce and precious metals experts at UBS and Goldman Sachs say the [...]

Rich investors rush into gold, could push price back to $1,000 ounce © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.