Despite the sharp rise in gold, the BNS saw its profit fall to 6 billion in the first quarter

The Swiss National Bank posted results in line with the forecasts of some analysts over the first three months, albeit in the low range. The Swiss National Bank's foreign currency reserves were penalized by the Swiss National Bank's (SNB's) net income over the first three months of the year fell to 6.68 billion francs – before the provision for monetary reserves was allocated. The main reason was the misperformance of foreign currency investment…

The Swiss National Bank (SNB) suffered a drop in its net profit in the first three months of the year, due to the underperformance of its foreign currency investments, which the increase in the value of gold failed to offset.