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[INFOGRAPHIC] Swiss Gold Referendum: What You Need to Know

November 30th is a big day for the world of gold.On this date, voters in Switzerland will head to the polls to vote in a referendum on the precious meta...

Admin
|Nov 23|magazine3 min read

November 30th is a big day for the world of gold.

On this date, voters in Switzerland will head to the polls to vote in a referendum on the precious metal. The referendum, if passed, will mean that The Swiss National Bank must hold 20 percent of all assets as gold, repatriate the 30 percent of their gold held abroad by England and Canada, and discontinue selling any gold they accumulate.

Switzerland, which currently holds the highest amount of gold per capita with 4.09 oz per citizen, could become one of the top three countries for most gold holding worldwide if voters choose “yes”. The vote would implicate the country to purchase at least 1,500 tons of gold to meet the 20 percent threshold for 2019.

The Swiss Gold Referendum on November 30th has big implications for gold prices and the following infographic breaks down everything you need to know about the event.