Swiss Residents Confess: We Bury Our Gold in the Garden!
Recent research reveals that Switzerland holds about 200 tonnes of gold, valued at nearly 15 billion Swiss francs. While many secure their gold in banks or safes, some admit to burying it in gardens, reflecting a unique blend of tradition and modern investment strategies.
The University of St. Gallen in collaboration with precious metals dealer Philoro, conducted a nationwide study in Switzerland to understand consumer attitudes toward physical precious metals as an investment option. The study reveals an astonishing fact: Switzerland harbours around 200 tonnes of gold, valued at nearly 15 billion Swiss francs, held privately by its citizens. This wealth primarily takes the form of jewellery, coins, and bullion, reflecting a deep-rooted cultural affinity for gold.
A survey accompanying the study uncovered some intriguing insights into how the Swiss manage their precious assets. Surprisingly, 5% of respondents admitted to burying their gold in their gardens—a practice that harks back to earlier times.
In contrast, less than half of those surveyed prefer to secure their valuables in banks or other external facilities, while 18% choose to keep their gold in home safes.
A contradictory approach to security
Remarkably, one in five gold owners openly acknowledged that they keep their valuables at home without any particular security measures. This level of confidence in personal safety suggests a generally relaxed attitude among some Swiss citizens when it comes to protecting their prized possessions.
The attraction to gold as an investment is nearly universal in Switzerland, with only 10% of respondents deeming gold investments unnecessary.
The primary reason for investing in gold is its long-term stability, with many viewing it as a reliable safeguard against economic uncertainties.
The impact of rising gold prices
However, the recent surge in gold prices has significantly impacted the investment landscape. There has been a slight decline in interest in gold investment across Europe and the West, while enthusiasm has increased in Eastern markets, particularly in China. This shift reflects evolving attitudes towards gold in light of global economic trends.
As the Swiss navigate the complexities of gold ownership, the study's findings offer valuable insights into their investment behaviours and cultural attitudes. The combination of traditional practices with modern financial strategies provides a compelling view of how the Swiss approach and safeguard their wealth, highlighting gold's enduring appeal as a symbol of stability and security.
✅ Swiss citizens collectively hold around 200 tons of gold.
✅ 20% of Swiss gold owners store their gold in unsecured locations, such as their own gardens.
✅ 65% of the Swiss population views precious metals as a viable investment option.
✅ The main motivation for investing in precious metals is stability and long-term security, with 43% citing this reason.
✅ However, real estate (47.6% approval) and checking/savings accounts (34.2%) are currently more popular than precious metals (28.2%) as investment choices.
Read the full study (in German) here.
