The gold reserves remained unchanged but the valuation increased significantly, with the Swiss Central Bank netting a profit of 14.3 billion Swiss francs in Q3 "purely relying on hedging."

Jin10 Data, October 31 - The Swiss Central Bank announced on Friday that it posted a profit of 27.93 billion Swiss francs (equivalent to 35.22 billion USD) in the third quarter, benefiting from the rapid appreciation of its gold reserves. During this period, the valuation of its gold reserves increased by 14.33 billion Swiss francs, significantly higher than last year's 4.41 billion Swiss francs, and far above the average quarterly profit of less than 2 billion Swiss francs from gold reserves over the past 10 years (according to UBS estimates). The Swiss Central Bank's gold holdings remained unchanged at 1,040 tons. UBS analyst Florian Germanier stated, “It is very unusual for the Swiss Central Bank to profit so much from gold, but this reflects the significant rise in gold prices this year. The profit is purely a positive side effect of holding an asset viewed as the ultimate safe haven; the Swiss Central Bank must hold this asset to achieve diversification and implement monetary policy.”