Swiss National Bank Posts Record 28 Billion Franc Profit Amid Gold Price Surge

The Swiss National Bank (SNB) reported a record third-quarter profit of approximately 28 billion Swiss francs in 2025, driven largely by a significant surge in gold prices. The valuation gain on its gold reserves reached around 14.33 billion francs, a sharp increase from the previous year's 4.41 billion francs and well above the average quarterly profit from gold over the past decade. This profit boost was supported by geopolitical uncertainties, a weakening U.S. dollar, and U.S. Federal Reserve interest rate cuts, which increased demand for gold as a safe haven asset. Additionally, the SNB's foreign currency positions, including bonds and equities, contributed gains of around 13.63 billion francs during the quarter. Experts emphasize that the extraordinary profits from gold are a side effect of the SNB's strategic holding of gold to diversify its reserves and support monetary policy. Despite these gains, the SNB's profits were partially offset by exchange rate-related losses, reflecting the complex dynamics of global financial markets.