Swiss bank says investors favor gold amid charges on cash

Section:

By Giles Broom
Bloomberg News
Wednesday, February 11, 2015

GENEVA, Switzerland -- Investors are buying more gold as an alternative to hold Swiss franc cash deposits, according Vontobel Holding AG, a Swiss bank and wealth manager.

"We keep noticing that gold is coming back into favor with investors," Vontobel Chief Executive Officer Zeno Staub, 45, told reporters today after the Zurich-based company announced full-year earnings.

Concerns that Greece may abandon the euro and Ukraine may be headed for a wider conflict have spurred demand for haven assets. Gold has climbed 4.2 percent this year, even as the dollar strengthened on prospects of higher U.S. interest rates. Investors' holdings in gold-backed funds are near the highest since October. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2015-02-11/swiss-bank-says-invest...



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