Switzerland is synonymous with gold bullion. It may be small, but this European country has hundreds of years of history with this precious metal, and it is also home to some of the most celebrated bullion refineries in the world. What’s more, Switzerland is also where many bullion storage companies, including GoldBroker, store their customers’ gold. And not without reason! But what makes this country the best place to store bullion, and why are the streets of Switzerland seemingly paved with gold?
Gold in Switzerland
PAMP Suisse are one of the biggest names in gold bullion. Their bars carry higher premiums than any other gold bars, and all of this is down to the way they are refined, as well as their high purity, and the fact that they are produced to a high standard. Switzerland is also home to a number of other big names, including Metalor and Valcambi. The following stats will give you an idea of just how synonymous this country is with high quality gold bullion:
- Refineries: Four of the biggest refineries in the world are located in Switzerland, and between them these refineries account for a huge share of the gold bullion that is produced every single year.
- Imports: In 2011, Switzerland imported over 2.5 metric tons of gold in its raw form. A lot of this was processed through the refineries mentioned above, being turned into gold bars and coins. This amount was higher than the amount imported during previous years.
- Mining: Not sure how much 2.5 tons is? To give you an idea, in 2011, roughly the same amount of gold was produced by all of the gold mines in the world, which basically means that, in one year, Switzerland bought most of the world’s supply of raw gold.
- Figures: Of course, Switzerland doesn’t quite control all of the gold, but on average, 7 of every 10 ounces refined every year is refined in Switzerland.
Switzerland’s dominance of the gold market can be compared to the dominance that the Med has for olive oil, that France has for sparkling wine or that China has for rare earth minerals. And that is part of the reason so many gold vaults are located here, but it’s not the only one.
Storage Vaults in Switzerland
So, why do companies like GoldBroker choose Switzerland to establish their vaults?
One of the main reasons is that these vaults can be maintained privately, kept out of the reach of central banks and governments, which means that if the worlds’ economies collapse, then your investment is still safe. This is a concern for many investors, because when the economies of Greece and Cyprus collapsed, the banks and the government stopped customers from accessing their money and placed a number of restrictions on it. This can’t happen with a company like GoldBroker and their Swiss vaults.
Because of their proximity to the biggest refineries, these vaults can save on transit costs, before passing these savings onto the customer in the form of spot-price gold. Simply put, as soon as you place an order, they can arrange for delivery from the refinery to the vault, with very little costs involved.
Switzerland is the Perfect Place to Buy and Store your Gold
Switzerland is the gold capital of the world, and the home of an extraordinary amount of this precious metal. Not only is so much of the yellow stuff refined and produced here, but there is also a vast quantity stored in their vaults, courtesy of companies like GoldBroker. These vaults are highly secure and they are also insured. They offer the perfect opportunity for american or UK investors seeking to safeguard their fortunes.
So, if you want to sink your money into gold, then you can’t go wrong, trusting a company like GoldBroker, and a country like Switzerland.