Gold Prices in Swiss Francs

Gold prices are, as a rule, calculated in terms of US dollars. Of course, if you live and do business in Switzerland, you use Swiss francs – which are notably not USD.

This chart is for Swiss gold investors. It features the past three decades of gold prices, only expressed in terms of francs, not dollars.

Let’s go through the reasons why monitoring in Swiss francs is important, how to use the chart effectively, and some of the highlights of gold’s performance during the years we cover.

Why Monitor Gold in CHF?

First and foremost, it’s more convenient. Having to do some kind of currency conversion every time you look at the price of gold is annoying.

Secondly, you can better contextualize the shifts in gold’s price if you can consider them in your home currency. It’s easier to understand gold in terms of a home payment, a utility bill, or the price of groceries.

However, the biggest reason to monitor gold in francs is the investment opportunity that doing so presents. Consider the following:

  • If the franc weakens against the US dollar, it becomes more difficult for Swiss investors to buy gold. Thus, the demand for gold drops, and it takes the price of gold with it. If you’re able to weather the storm, you may find a way to buy gold at a considerable discount.
  • If the franc strengthens against the dollar, however, the opposite situation occurs. Swiss investors can buy more gold, and the demand for it rises. The price goes up, and if you have any gold you’d like to sell, you can realize extra profit during these periods.

How to Use the Gold Price Chart

The first thing to notice on the chart is the information about the current day of trading. We offer the spot price, bid price, and ask price – updated in real time. In addition, we have the high and low marks for gold’s price that day – updated as the situation demands.

The chart itself covers the period between January 1, 1995 and the present day. To begin your examination, choose one of the preset options on the dashboard. If you want a timeframe longer than a year, pick the “All” option.

From there, you can set a start and end date for your search. Alternatively, you can move the ends of the slider underneath the chart to establish your window.

Now, each datapoint can be singled out with a finger or cursor for more specific information. Be aware, though, that you might need to shrink your timeframe if you want more granular data. The first datapoints will be average prices for an entire month, but you can reduce down to average weekly prices before arriving at the price for a specific day.

All of our prices are closing day prices. While it is possible that gold moved higher or lower during the trading day, those swings are too much of a moving target to report.

Lastly, you can compare the performance of different financial metrics against that of gold over the same time period. Pick one of the radio buttons – crude oil, FTSE 100, etc. – to see how it lines up against the yellow metal.

Notable Events that Caused the Price to Shift

Gold is unusual in the panorama of investment categories in that it is affected both directly and indirectly by world events and conditions. We’ll discuss those in detail below, but here are some of the biggest gold price shifts in the past three decades.

Date Closing price (CHF) Notes
February 21, 2008 CHF1,028.38 For most of gold’s price history, an ounce of gold cost around CHF500 – and sometimes less. However, this stability began to crumble in 2006 as the worldwide economic downturn known as the Great Recession and the debt crises in the US and Europe took hold. Two years later, the economy had worsened further, and this new record high was the apex of roughly one month where gold traded at or above CHF1,000.
October 4, 2012 CHF1,666.10 The next four years did nothing to assuage investors’ nerves about the worsening economy. In fact, the inflationary measures that governments put in place to arrest the debt crisis and recession only made gold a more attractive option. This new record high price was the last of several spikes over CHF1,600.
August 6, 2020 CHF1,883.25 The all-time high of 2012 would remain the record until April 2020, when the existential fear generated by the COVID-19 pandemic’s effects on economies and health worldwide caused investors to buy gold in record amounts. The mark set in April would continue to be broken for the next two months before cresting at this mark on August 6.
March 8, 2022 CHF1,899.99 After the peak in August 2020, the gold price cooled down as pandemic concerns receded. However, Russia’s invasion of Ukraine created its own sense of panic, especially for those in central and eastern Europe. As Russia is both a looming military presence too close for comfort to Switzerland and a major producer of gold, investors quickly moved to increase their stores of the yellow metal, and the price responded in kind.
May 6, 2025 CHF2,820.34 The price of gold remained in the CHF1,700s for the next three years. However, gold’s price history seemed to enter a different phase in February 2024. Rising inflation levels – particularly in the US – gave way to a great deal of trepidation and uncertainty surrounding the American presidential election. Then, after the election of Donald Trump, the new administration’s aggressive tariff policy essentially constituted a trade war on a large portion of the world’s countries – especially China. All of the uncertainty combined to escalate by more than 58% in just a 14-month period.
January 28, 2026 CHF4,159.41 The record in May 2025 was not the end of gold’s shot to the moon. Over the next eight months, gold gained more than 47% beyond the old record. In September, gold breached CHF3,000 for the first time. Incredibly, it would pass CHF4,000 only four months later, and reach a new zenith 28 days into 2026. At issue was a weakening US dollar and several US-involved geopolitical tensions, including its arrest of Venezuelan president Nicolas Maduro and its attempt to annex Greenland.

What Influences the Price of Gold?

As mentioned, there are several different situations that may occur in the world and cause gold’s price to fluctuate. More specifically, those conditions or events affect the supply of gold or, more often, the demand for it. Let’s talk about some of the more profound and impactful factors that can move the needle for gold.

  • Economic health: The health of the economy is inversely related to the price of gold. As the economy booms, fewer investors are motivated to turn to gold because they are having so much success with traditional investments like stocks, mutual funds, or other growth-based investments. Thus, demand drops, and so does the price of gold. When the economy weakens, however, the opposite situation occurs – more investors want the security of gold to protect their assets, and gold’s price increases in response.
  • Inflation: The dilution of a currency spurs gold’s price higher for a few reasons. For one, it now takes more currency to buy the same amount of gold, which equates to a price hike. The bigger reason, though, is that investors quickly grow unnerved by the lessening of their assets’ value, and run to gold to protect what wealth they have left.
  • Interest rates: High interest rates have the same effect on gold prices that healthy economies do, and for a very similar reason. Investors tend to keep with traditional investments like bonds and treasury bills to take advantage of the higher returns, and gold’s price declines. When the rates drop, investors seek out gold’s security against the less-favorable risk-return ratio.
  • Mining logistics: It is not easy to get gold ore out of the ground, get it refined, and present it to the market. It takes incredible amounts of machinery and manpower to make it happen. Thus, any breakdowns along the way, be they in the form of machine errors, labor disputes, or weather disruptions to transport can squeeze the supply chain for new gold. The result is a higher gold price. On the other hand, if new sources of gold are discovered or technology makes more ore reachable, the supply will increase, and the price will drop.
  • Technology: While not as integral to industry as silver, gold is a key component in devices for several different industries because of its conductivity and strong resistance to corrosion. Notably, the aerospace, medical, and electronic industries draw upon gold frequently in their applications. If a new technological advance in one of these industries relies more heavily on gold, it may constrict supply and cause the price to increase. On the other hand, if a new application eschews gold, the demand for it may drop and take the price with it.

The Swissmint

Swissmint is the official mint of Switzerland. The mint is located in the capital city of Bern, and is responsible for producing both Swiss circulation coinage as well as bullion coins. The mint also produces medals and commemorative coins. The mint is an agency of the Swiss Government.

The Swiss National Bank

The Swiss National Bank is the central bank of Switzerland. The central bank is in charge of the country’s monetary policy, and as part of its mandate it seeks to achieve price stability and to foster economic growth. The Swiss National Bank is the exclusive issuer of the country’s banknotes, and is also in charge of coin distribution.

The Swiss Economy

The Swiss economy is considered to be one of the most stable in the world and the nation has achieved one of the highest per capita incomes in the world. The country has some diversity in its economy, and its major areas of concentration are watch-making, agriculture, banking and tourism.

World Gold Prices