The bank said its foreign currency positions contributed about 4.7 billion francs in profits, while the rise in gold prices delivered a 1.4 billion gain in the value of its holdings.

 

ZURICH(BullionStreet): Climbing gold prices helped Switzerland's central bank to post a reasonable $6.4 billion profit last year.

 

The Swiss National Bank in a statement said it's foreign currency positions also helped to maintain the profit limit from going down further.

 

In 2011, the Swiss central bank posted a record 13.5 billion franc profit when it was buying a massive amount of euros to hold down the value of the franc. ...