Jim Sinclair’s Commentary
There once was a Kingdom of Gold by the name of Switzerland but that is far – far away. $600 million is a drop in the bucket compared to all the modern leverage washing around the once grand country of Switzerland.
Swiss Government Pension Fund To Buy Gold Bars Worth Some USD 600 Million
June 7, 2018
Swiss Government Pension Fund Allocating 2% Of Pension Fund To Gold Bars
via IPE Quest
The Swiss government pension fund, Switzerland’s AHV/AVS fund, has decided to diversify into physical gold bars in their substantial CHF35.2bn (€30.5bn) pension portfolio.
At the end of last week the first pillar buffer fund tendered a custodianship and storage for CHF 700m (EUR 600m / USD 700m / GBP 525m) in gold bars via IPE Quest.