Swiss Gold Reserves

For many people, both inside and outside Switzerland, there has long been an assumption that the strength of the country’s currency and its economy owes much to its considerable reserves of gold.

With those reserves depleted, the Swiss Franc itself has come under scrutiny recently as concerns are growing that it is suffering the same kind of monetary debasement that the US Dollar has over the past few years, with the SNB engaged in a care-free monetary policy.

Quantitive Easing has been undertaken by the bank in an effort to stop CHF from appreciating to strongly against the Euro which has been rocked by crises that have unfolded one after another across the Eurozone member countries. Policymakers state that strength of the Swiss franc threatens economic development and increases price instability.


Calls for more transparency regarding the remainder of Switzerland’s gold reserves have been met with statements from the Swiss National Bank that its physical gold reserves are held “domestically and internationally, with provisions for a crisis scenario being a main factor in the decision for this decentralized storage”.

Whereas the SNB may have good reason store Swiss gold outside of its border, it does worry many Swiss people who fear possible confiscation by these foreign jurisdictions in the cataclysmic event of some kind of economic collapse.

1oz Credit Suisse Gold Bars

Ever-popular, the 1oz Credit Suisse gold bar is a classic gold bar bullion product. Perfectly rectangular and minted in gleaming 24 karat solid gold, they have been produced at the Valcambi refinery in Switzerland for more than 40 years and like all Credit Suisse gold bars are backed by the world famous Credit Suisse bank of Switzerland. When it comes to quality, authenticity and craftsmanship, these Swiss gold bars rank amongst the best and are accredited by bullion exchanges around the world including the all-important London Bullion Market Association. Trusted and recognized worldwide they play a fundamental role in the gold bar bullion market, minted primarily for investment purposes as opposed to cast bars that serve a fabrication purpose as well.

Identifying 1oz Credit Suisse Gold Bars

With our handy tips, you can be sure your hard-earned money is spent on the genuine article. Watch out for these pointers as each and every 1oz Credit Suisse gold bar is stamped with five important pieces of information:

  1. The trademark logo of ‘Credit Suisse’.
  2. The words ‘Fine Gold’ denoting its bullion content and weight in Troy Ounces (1 Troy Ounce = 31.103 grams). The Troy Ounce which is used for precious metals should not be confused with the usual ‘Averdupois’ ounce (used in the kitchen!) which equals 28.350 grams.
  3. The numbers ‘999,9’ which denotes the bars purity in millesimal fineness. This means 999.9 parts gold out of a thousand i.e. 99.99% pure gold (anything above 99.90% is 24 karat gold).
  4. The logo of Valcambi, the assaying refinery – ‘CHI Essayeur Fondeur’
  5. A unique serial number by which a bars authenticity can be traced.

Why 1 oz Credit Suisse Gold Bars Are Popular

1 ounce gold bars in particular are popular with investors as their weight ties up with the spot price of gold which is quoted in ounces. This makes it easy to calculate the value of one’s gold holdings. For example, if you own five 1 ounce gold bars and the spot price of gold is $1000, you immediately know that your investment is worth $5000. Also, gold bars in general are popular with investors as opposed to coins, as they carry one of the lowest premiums on gold bullion.

Premium is the price above the market value of the gold bullion that represents refining, manufacture and delivery costs. A 1 oz Credit Suisse gold bar will cost you less to purchase than a 1 oz gold bullion coin. They therefore represent an excellent vehicle to invest in the gold bull market.

In addition, 1 ounce gold bars are small and conveniently sized thereby giving investors the flexibility to add to or reduce their holdings easily – slicing off an ounce of gold from a 100 gram bar is not really an option! For larger investors who, for example, do not wish to deal with fifty 1 oz bars, the 10 oz Credit Suisse gold bar is also available thus requiring a holding of only five bars.

In summary, 1 oz Credit Suisse gold bars are an excellent choice for the gold investor. They are one of the most cost effective, liquid, trusted and popular ways to own gold. Buying online is extremely convenient and safe.

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Looking Back – Were We Right About Gold in 2012?

With gold hitting $1770 September 13th, we feel that a quick review of the blog posts made on our previous blog over the past few months is in order.

Way, way, way back in May when gold’s price was slipping and breaching one support level after another, we wrote that ‘Until a secular trend is shown to be broken, it is understood to still be in play‘. Four months later we can now clearly see that the fundamentals of this market have not disappeared, gold has finally run through its consolidation period, is climbing back on the bull and that the secular trend is intact!

In that same article posted May 14th 2012 and entitled ‘Gold Dips Even More‘, we presented the 10-year long term trend line and discussed how gold, then hovering around the $1600 mark, was in danger of breaching it. This could have proven ominous but the following week’s action was spectacular. Gold dipped all the way to $1526 and bounced right back up to $1590 by the weekend. Our article ‘Gold Hits a 4 Month Low‘ pinpointed the bull hammer candlestick posted that week which can now be seen in retrospect to clearly be the low point from which gold’s current rally started.

June 2nd and the article ‘Now That’s What I Call a Bounce‘ had a touch of optimism about it due to the fact that gold have posted a one-day rise of $60! The following article on June 16th also made note that price had climbed back above the 50 Day Moving Average line for the first time in over 3 months. Things were looking up.

gold June 2012

Throughout July, gold bored us with no further exciting news. This however was attributed to the Summer Doldrums that is a well known seasonal period of inactivity for both gold and silver. We posted on this topic and exhorted goldbugs to keep strong. Remember, ‘a trend is in play until it is shown to be over’.

Finally in August the news we were all hoping for (and expecting) came. Firstly on August 5th, gold ‘bounced of its 50 DMA‘ rather than sink back below it and secondly by late August, it had crossed back above its 50 MA on the weekly chart and more importantly a MACD crossover had occurred indicating that price momentum was with the bulls. We suggested gold was gearing up for a rally.

Within the space of a month, gold has charged upwards around $150 and almost $250 since its low of $1526 back on May 16th.

gold rally 2012

So where to now? Where will the peak of this current rally come? I don’t know. But I’ll be sure to be reading the charts and keeping you posted on my thoughts. I’m not a professional but I’ve been tracking the gold charts for over 5 years and I’m invested so my money is where my mouth is.

Fundamentally you have to believe that gold as an asset class is being revalued to the detriment of the US Dollar. If you believe that, stay tuned to and let’s see through $2000 gold together. If not, you are welcome to read QE Maestro Chopper Ben’s blog.

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Gold Bullion Bars

The term ‘Suisse gold’ or ‘Swiss gold’ commonly refers to gold bullion bars that are refined and issued in Switzerland. For over 40 years, Suisse gold bars have been known for their high quality, purity, authenticity and liquidity. They are an excellent way to invest in gold bullion and are constantly in demand worldwide. Suisse gold bars are unique, of exceptional quality and purity and have a worldwide reputation that is second to none. They can be bought online and are popular amongst gold investors as an easily obtainable, storable and sellable form of gold bullion. Back in 1999, Switzerland held just over two and a half thousand tonnes of gold bullion in its official reserves. It was the biggest gold holder after the International Monetary Fund, the US and the Eurozone. In concert with other central banks, subsequent bullion sell-offs by the Swiss National Bank throughout the first decade of the 21st century has depleted those reserves to a little more than a thousand tonnes according to the World Gold Council.

Credit Suisse Gold Bars PAMP Suisse Gold Bars
Credit Suisse Gold Bars Pamp Suisse Gold Bars
Backed by the Credit Suisse Bank of Switzerland, a favorite amongst investors for decades. Minted since 1979 by Produits Artistiques de Métaux Précieux, PAMP bullion bars are famed for their artistic excellence.

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Swiss Gold Reserves

Gold: Finally Something to Cheer For?

After Gold’s torrid year in 2013, gold bugs are hoping that the double bottom which formed over the last 6 months of 2013, will hold. The lows for this formation came in at $1179 on 28th June 2013 and 31st December 2013. Since that propitious date, gold has climbed in a series of higher highs and higher lows back up to $1392, the point at which the double bottom formation started. At this point however it has encountered resistance rather than blasting through, in an act that would have confirmed the double bottom reversal.

As of the close of week 21 March 2014, gold has retreated back to support at about the $1325 level and in an equally interesting development, the 50 and 150 day simple moving average trend lines have finally turned upwards to come within a whisker of crossing back over the 200 day simple moving average.

Sitting at $1302, the 200 DMA represents a line in the sand that needs to hold and would represent a great opportunity to go long. Following this I would love to see some meandering around the 200 DMA through the summer and lift-off moving into the August seasonal rally.


If the 200 DMA breaks…all bets are off once again.

August 2012 – Gold Accelerates Upwards

Two weeks ago, we wrote about how the price of gold was gearing up for an August rally based on, amongst other reasons, an encouraging move in which price had ‘bounced’ and held above the 50 Day Moving Average trendline. Sure enough, this week saw that bounce play out with price rising to over $1670. Friday’s action resulted in a Doji candlestick in which the price stretched both upwards and downwards but ended up closing close to the day’s open. That can indicate uncertainty in the market and next week will show us whether the bull’s still have it or whether the bears will force a pullback. Nevertheless, when we switch to the longer-term picture and examine the weekly charts, their is strong indication that momentum is now skywards. Firstly, a MACD cross-over which is a bullish sign is clearly visible and secondly, price has surmounted the 50 Day Weekly Moving Average trendline which one might have expected to act as initial resistance. Even if there is a pullback next week, we would hope to see this trendline holding (currently at $1658) and the gold price once again ‘bouncing off it’.

gold in 2012

David Nichols of the FractalGoldReport states that “Wednesday’s move up in gold was huge. Not so much in terms of points gained — although it was a pretty chunky rally — but more in terms of context.

There is lower risk now that this is a false breakout, which could have led to a very quick collapse back down. There is always risk at critical breakouts, of course, and even though I didn’t see much of a problem with this set-up, you can just never be 100% certain that the opposite energy won’t come flooding in to tank a good-looking breakout move.

There is a monstrous amount of energy available to power a potential massive trend in gold. This is an ideal set-up for a move up to the next 21-month peak, scheduled to arrive in June or July 2013.”

August 2012 – Is a Gold Rally Gearing Up?

Hello again Goldbugs. Slowly but surely the tide is changing for gold. After drifting listlessly in the ‘Doldrums’ for weeks on end much like the un-powered sailing ships of olden times used to, the price of gold has made a small but significant movement in the past few days. For the first time in almost 5 months, gold actually bounced off of its 50 Day Moving Average line. By this I mean that having crossed above the 50 DMA just over a week ago, and then falling back towards it last week, rather than descending below it, gold bounced back up. This pattern has been seen a few times over the last 5 months as the chart below shows but on all those occasions, the gold price descended back down below the 50 DMA i.e. it did not bounce. If this behaviour holds into next week and continues over the coming weeks, then the 50 DMA will start to rise again and that is good news. It may also please you to know that on the weekly chart, gold’s weekly 100 moving average trendline I wrote about a few weeks ago is also holding. In a nutshell, the $1600 region is looking like a major low in this market and one that will soon be left behind for good!

gold august 2012

In one of his latest commentaries, Jeb Handwerger of writes that “It is not the first time that gold has had a number of drops from its long range upward trajectory. Undoubtedly, investors may question the fall from grace this year of gold and silver which saw highs of $1900 on gold and $50 on silver in 2011. Now they are trading near the lower parts of its yearly range.

Characteristically these metals have always been volatile and subject to breathtaking moves both upward and downward as they revert to their means. Do not forget the long term trend is moving higher and we must use this volatility to our advantage, rather than letting the irrational logic of the crowd divert us from our course.

There are enough reasons to explain these mercurial moves. Bernanke’s reluctance to openly inject the markets with the benefits of quantitative easing in 2011, since the expiration of QE2 in April has knocked the wind out of most markets including precious metals.”

Gold’s Summer Doldrums 2012

Well it seems that gold has been bobbing up and down like a bouy on water for the past few months making absolutely no headway upwards or downwards to get neither gold bugs nor even gold bears excited. Steady as she goes seems to be the call of the day. Excuse the nautical references, but there is a reason the summer period is known as the ‘Doldrums’ in the precious metals sector. Following is an excerpt from an article by Adam Hamilton entitled ‘Precious Metal Doldrums 4′ issued on July 13th 2012.

“Back in the era of wind-powered tall ships, the doldrums were the name given to the areas of the oceans near the equator where prevailing winds often didn’t exist. These periods of dead calm meant there was no wind for sails, trapping ships for days or even weeks. They drift lethargically and all hope for progress vanishes”

in the doldrumsSimilarly, with gold, silver, and their miners’ stocks drifting listlessly near correction lows, the sentiment in precious-metals land is even more pessimistic than usual. The ironic thing is even though this phenomenon happens nearly every summer like clockwork, it always crushes sentiment. The great majority of traders aren’t disciplined enough to study the markets and learn their rhythms, so each year the PM summer doldrums discourage them anew.

The reason gold prices slump to a long seasonal ebb in summer is because whereas global investment demand sees big spikes in autumn, winter, and spring for various income-cycle and cultural reasons, there are simply none during the summer.

To demonstrate this, on the graph below, each summer from 2001 to 2011 is shown in yellow. Since this is nothing more than a mess of spaghetti, the red line shows the average and the blue line shows the current summer’s progress. All prices have been indexed at 100 based on the closing price on the last trading day of May.

gold summer doldrums 2001 - 2012

And lethargically consolidate gold does, as you can see here. The red average of all the yellow individually-indexed summers from 2001 to 2011 is pretty flat. For its entire bull, on average this metal has spent summers drifting from 2% below to 2% above its market-summer starting point at the end of May. A 2% move either way over a 3-month period is hardly noticeable, essentially purely sideways.

And you can clearly see that autumn rally accelerating in September on this chart. After struggling all summer just to maintain its late-May levels, on average gold has powered 5% higher by late September. So if you can hold on through the summer doldrums, ignore the ubiquitous bearish psychology and sit tight, usually you will be richly rewarded in autumn when major seasonal gold-buying spikes return.”

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June 2nd 2012 – Now That’s What I Call a Bounce!

Originally posted on

Now that’s what I call a bounce. What an amazing week its been on the gold market. May 19th we wrote about how a possible Bull Hammer candlestick had developed in both the gold and silver markets. The following days saw gold put in not one but two further dips below the $1535 mark before rallying intra-day back above $1560. It looked like a bottom was definitely being carved out and with RSI dipping below the 30 mark (indicating an oversold position), a trigger was all that was needed to propel the gold price back to where it wants to be.

Seems that trigger came, Friday, in the form of a much-weaker-than-expected U.S. jobs report that quickly put thoughts of U.S. quantitative easing monetary policies back on the table. Spot gold rapidly traded up $60 for the day to close above $1620.

Gold Rally June 1st 2012

In other news, the US Dollar continues to gain from European fallout over Greece’s impending exit from the Euro. Over the course of May 2012, the USD Index has climbed 4 points from just under 79 to over 83. This index compares the dollar in a basket against six other fiat currencies most notably the Euro.

USD May 2012 Rally
All other things being equal, a strengthening Dollar means the price of gold increases in all other currencies since we have to pay more of them to get the same number of dollars in which gold is priced.

According to technical analyst Jim Wyckoff, the gold bulls’ next upside price breakout objective is to produce a close above solid technical resistance at the May high of $1,674.30 and the bears’ next near-term downside price objective is closing prices below what is now psychological support at $1,600.00.

First resistance is seen at $1,640.00 and then at $1,650.00. First support is seen at the April low of $1,616.30 and then at $1,600.00.

May 2012 – Gold Hits 4-Month Low

Well the week opened 14th May 2012 with gold at $1586 and closing at $1590. A 4 dollar change you say. Yes, but it belies the fact that gold tumbled to a 4-month low of $1526 Wednesday before charging back up $64 over the tail-end of the week.

When looking at the weekly chart this week’s candlestick comes at the end of a 12-week downswing and has the features of the bull hammer trend reversal indicator. A bull hammer occurs after an index has been declining, possibly suggesting the market is attempting to determine a bottom.

anatomy of bull hammer candlestick

As with any single candlestick, confirmation is required but the fact that price falls much lower than the open and then subsequently closes right back near the opening price reduces the confidence of the bears.

Just look at the chart below and notice how two significant rallies in gold started after the weekly bull hammer candlestick was issued.

gold 2010 to 2012

In more news that should buoy the bulls, the World Gold Council’s annual report in February indicated that global demand for gold surpassed $200 billion for the first time in 2011 and more recently Marcus Grubb, Managing Director (Investment) at the WGC, said Chinese demand over 2012 is expected to outstrip that of India. Both these countries account for about half of the world’s gold demand combined.

Back in Europe, the euro slid to a 4-month low against the greenback and is expected to remain under pressure as concerns grow about problems facing some periphery euro-zone banks and the prospect of contagion if Greece exits the euro.

IMF chief Christine Lagarde warned of “extremely expensive” consequences if Greece were to leave the euro-zone, a once-taboo possibility that European leaders have begun to discuss openly given the nation’s political crisis.

A weaker euro makes dollar-priced commodities such as gold more costly for euro holder.