Swiss gold refineries pushed to the limit by demand
By Gerhard Lob
SwissInfo, Bern, Switzerland
Sunday, December 14, 2008
Gold refineries in Switzerland are working at their limit to cope with demand for the precious metal from investors seeking ways to shield their wealth.
The staff at the Argor-Heraeus company in the southern town of Mendrisio are putting in overtime to produce gold bars for people turning their backs on the financial markets.
"I've never experienced anything like this in my whole career," Erhard Oberle, chief executive of the firm for the past 20 years, told SwissInfo.
He said the demand was so heavy that it could hardly be satisfied.
The reason for the gold -- and silver -- rush is that at a time of financial crisis many investors want real assets.
The general rule of the market is that gold is always attractive when everything else is unattractive….http://www.swissinfo.ch/eng/front/Financial_crisis_boosts_