![]() ![]() In 1942, the financial conglomerate opened an office in New York City, where it became a major gold trading house. Industry experts credit the company for playing a vital role in developing the Swiss franc, assisting Swiss entrepreneurs, and solidifying the reputation of the National Bank of Switzerland. The company boasts significant influence in Switzerland’s rise as an economic powerhouse during its first decades of existence. For More Information, Sign Up for Our NewsletterĬredit Suisse began as a company that supported the construction and infrastructure of the Swiss railway system as a public works project.Physical Characteristics of Credit Suisse Gold Bars.Bar and coin demand likely will remain healthy due to the bleak economic backdrop. Investor buying of gold should be broadly flat through the rest of the year as tighter monetary policy by central banks diminishes the allure of the non-interest bearing asset, according to the WGC. “As many countries face economic weakness and the cost-of-living crises continue to squeeze spending, consumer driven demand will likely soften, although there should be pockets of strength,” Louise Street, a senior analyst for the council, said in a statement. Spot prices have slumped since rising near a record following Russia’s invasion of Ukraine. Jewelry demand has been weaker after 2021, driven by lockdowns in China and the strengthening dollar, which makes gold bought in local currencies more expensive. ![]() ![]() India, another top consumer, also may see lower buying due to the falling rupee and a higher import duty. (Bloomberg) - Demand for gold jewelry may slip due to weaker economic growth in the biggest markets, according to the World Gold Council.Ī combination of China’s strict Covid Zero policy and struggling real-estate sector likely will cause a slow recovery in demand there, the WGC wrote in its quarterly report. ![]()
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