Swiss National Bank Gold Reserves
Swiss National Bank gold reserves explained: latest IMF IFS holdings figure, 10-year accumulation trend, peer comparison vs global central banks, policy rationale. Updated 2026-06-03.
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As of December 31, 2023, the Swiss National Bank held 1,040 tonnes of gold, making it the 7th largest central bank gold holder globally, according to the World Gold Council.
CHFKey Facts
- Institution
- Swiss National Bank
- Country
- Switzerland
- Currency
- CHF
- Rate cadence
- Every 6 months
- Reserve data source
- IMF International Financial Statistics
- Last refresh
- 2026-06-03
What this means
The Swiss National Bank (SNB) maintains a substantial gold reserve, consistently ranking among the top central bank holdings worldwide. This significant allocation underscores the SNB's commitment to a diversified and robust reserve management strategy.
Historically, the SNB's gold accumulation has seen periods of both increase and decrease. While significant acquisitions occurred in the late 20th century, recent decades have seen a more stable, albeit still large, reserve size.
The strategic rationale behind the SNB's gold holdings includes diversification against currency fluctuations, a store of value during economic uncertainty, and maintaining financial stability. Gold acts as a tangible asset in its foreign currency reserves.
Current Gold Holdings and Share. As of December 31, 2023, the Swiss National Bank's gold reserves stood at 1,040 tonnes. This represents approximately 7.5% of its total foreign currency reserves, valued at around 70.5 billion CHF.
Historical Accumulation and Trends. The SNB's gold reserves peaked in the late 1990s, exceeding 2,500 tonnes. Following constitutional changes in 2000, a significant portion was sold. Since then, the holdings have remained relatively stable, with minor adjustments.
Recent Activity and Policy. The SNB's gold reserve policy is guided by its mandate to ensure price stability and support the financial system. While no major acquisitions have been announced recently, the SNB periodically reviews its reserve composition and management.
Frequently Asked Questions
What is the current amount of gold held by the Swiss National Bank?
As of December 31, 2023, the Swiss National Bank held 1,040 tonnes of gold.How does the SNB's gold reserve compare to other central banks?
The Swiss National Bank's gold holdings rank it among the top 10 central bank gold holders globally, typically around 7th place.Has the SNB recently increased or decreased its gold reserves?
The SNB's gold reserves have been relatively stable in recent years, with no significant large-scale purchases or sales announced. Minor adjustments may occur as part of ongoing reserve management.What is the strategic importance of gold for the Swiss National Bank?
Gold serves as a diversification element in the SNB's foreign currency reserves, acting as a store of value during times of economic uncertainty and contributing to overall financial stability.