According to Jean-Pierre Danthine, vice president of the SNB, 20% of Swiss assets kept in gold and a ban on gold sales may disrupt current monetary policy.
Thus, the national referendum called “Save our Swiss Gold” will take place in Switzerland on November 30. The vote is organized by the populist Swiss People's Party.
It is noteworthy that currently Switzerland’s gold assets account for 7.5% of its total assets.
In case the reform is approved, the regulator will not be able to sell gold in the future and all reserves of the precious metal of the SNB will have to be kept solely in Switzerland.
