The case
The latest all-time record for gold is only a few days old. Experts assume that the record will be broken again in the new year. The experts are expecting a new record, up to USD 2250/ounce – but the price of gold is volatile. It can quickly fall by 20 per cent.
Source: Swiss Press
The commentary
The high gold price is good news for Switzerland. Switzerland is the global gold hub par excellence: five of the world’s seven largest gold refineries are located in Switzerland: PAMP, Argor-Heraeus, Metalor, Valcambi and Cendres Métaux. They produce up to 70 per cent of the gold traded worldwide. The higher the price, the better the capacity utilisation of the Swiss gold refineries.
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