Gold Price in Switzerland per Gram in CHF — Live Rates & Buying Guide
Switzerland · Gold Market Brief
Switzerland refines roughly 70% of the world's gold — more than any other country. PAMP, Valcambi, Argor-Heraeus, and Metalor are all based here. It's also one of the few European countries where investment gold (bars and coins of 99.5%+ purity) carries 0% VAT. For a Swiss buyer, the gold price is effectively the world spot price converted to CHF — with one of the tightest retail premiums on the continent.
24K / gram
$132.77
99.9% pure
22K / gram
$121.71
91.67% pure
18K / gram
$99.58
75% pure
24K / kilo
$132,773
Investment bars
Why Switzerland Matters for Gold
Switzerland is the gravitational centre of the global gold supply chain. Four of the world's six largest gold refineries are Swiss. They process raw gold from mines in Africa, South America, and Central Asia, and output the 1 kg Good Delivery bars that trade on the London Bullion Market and the Shanghai Gold Exchange.
~70%
of world gold refined in Switzerland
4 of 6
largest refiners are Swiss-based
0% VAT
on investment gold (99.5%+ purity)
~1–2%
typical retail premium over spot
Gram to Kilo Conversion
Swiss buyers typically think in grams (for jewellery and small bars) and kilograms (for investment bars). The global market quotes per troy ounce. Here's the bridge:
| Unit | Weight | Typical Use |
|---|---|---|
| 1 Troy Ounce | 31.1035 g | International spot quote |
| 1 Gram | 1 g | Small bars, jewellery |
| 1 Kilogram | 1,000 g (32.15 oz) | Good Delivery bars, bank purchases |
| 1 Unze (German) | 31.1035 g | Same as troy ounce, common in Swiss-German |
Quick formula: Price per gram = Price per troy ounce ÷ 31.1035. Price per kilo = Price per gram × 1,000. Use our Gold Calculator for instant conversions.
Price by Purity — 24K, 22K & 18K
Switzerland's retail gold market spans 24K investment bars down to 18K jewellery. Swiss watchmaking and luxury jewellery (Rolex, Patek Philippe, Chopard, Bucherer) favour 18K (75% gold) for its durability and warm colour. Investment bars are almost always 99.99% (24K).
$132.77
per gram · Investment bars & coins
$121.71
per gram · Rare in Switzerland
$99.58
per gram · Swiss watches & jewellery
VAT on Gold in Switzerland
Switzerland's VAT treatment of gold is among the most investor-friendly in Europe:
Investment gold (bars & coins ≥ 99.5%)
0% VAT
Exempt under Swiss VAT law. This includes LBMA Good Delivery bars, Swiss Vreneli coins, and all internationally recognised bullion coins.
Gold jewellery & watches
8.1% VAT
Standard Swiss VAT rate applies to the full retail price including craftsmanship. No special exemption.
Capital gains tax on gold
0%
Private individuals pay zero capital gains tax on gold profits in Switzerland. Gold held as personal assets is tax-free on disposal.
Wealth tax on gold holdings
Varies by canton
Swiss cantons levy a small annual wealth tax (typically 0.1–0.5%) on all declared assets including gold. Rates differ by canton — Zug and Schwyz are the lowest.
Where to Buy Gold in Switzerland
Swiss banks
UBS, Credit Suisse (now UBS), ZKB, and cantonal banks sell gold bars and coins over the counter. Pricing is competitive (1–3% over spot) but you need a bank account. ZKB's gold ETF (ZGLD) is physically backed in Swiss vaults.
Online bullion dealers
Degussa, philoro, Gold Avenue (PAMP's own retail arm). Transparent pricing, home delivery or vault storage. Gold Avenue is notable because you buy directly from the refiner — no middleman.
Refiner direct purchase
PAMP (via Gold Avenue), Valcambi, and Argor-Heraeus all sell retail. PAMP's Fortuna bar is the world's most recognisable gold bar design.
Swiss Post (PostFinance)
Sells gold bars and coins at select post offices. Unusual channel but competitive pricing.
Bahnhofstrasse jewellers (Zurich)
Bucherer, Gübelin, and independents sell gold jewellery (18K) and investment pieces. Higher premiums than banks but physical inspection.
The Big Four Swiss Refiners
These four LBMA-accredited refineries produce the majority of the world's gold bars. A bar stamped by any of them carries the highest resale value globally.
PAMP (Produits Artistiques Métaux Précieux)
Castel San Pietro, Ticino
Fortuna bar design (the Lady Fortune motif). World's most recognisable gold bar. Owns Gold Avenue for direct retail.
Valcambi
Balerna, Ticino
CombiBar (divisible gold bar that snaps into 1g pieces). One of the largest single-site refineries in the world.
Argor-Heraeus
Mendrisio, Ticino
Kinebar (hologram-security bar). Also a major silver and PGM refiner.
Metalor Technologies
Marin-Epagnier, Neuchâtel
Oldest of the four (founded 1852). Strong in industrial precious metals and electronics recycling.
CHF vs EUR vs USD Gold Price
Gold is priced globally in USD. The CHF gold price is the USD price converted at the live exchange rate. Because the Swiss franc is itself considered a safe-haven currency — like gold — the CHF-denominated gold price tends to be less volatile than the EUR or GBP price. When geopolitical tension rises, both gold and CHF strengthen against USD/EUR, partially offsetting each other.
For Swiss investors, this means gold is a slightly weaker crisis hedge in CHF terms than it is in EUR or USD terms — because CHF appreciates at the same time gold does, dampening the CHF-denominated return. Gold still outperforms Swiss equities in crises, but the "gold went up 20%" headlines (in USD) translate to smaller moves in CHF.
Use our Currency Converter to see the live USD/CHF rate, or compare gold performance against the SMI index on our /compare page.
Frequently Asked Questions
Is gold VAT-free in Switzerland?
What is the gold price per gram in CHF today?
What does 1 kg of gold cost in Switzerland?
Can I buy gold at a Swiss bank?
Which Swiss refiner bar has the best resale value?
Sources
See the live gold price in Switzerland in CHF, use the Gold Calculator for instant gram-to-kilo conversions, or read our Gold Weight Units guide for the full picture of how gold is measured across markets.