October 31, 2019 / 6:43 AM / 13 days ago

Swiss National Bank gets Q3 lift as easy money boosts investments

ZURICH, Oct 31 (Reuters) - The Swiss National Bank posted third-quarter profit of 13.1 billion Swiss francs ($13.3 billion), it said on Thursday, as easy money provided by other central banks boosted its stock portfolio while political risks helped lift the price of gold.

The SNB made a profit of 8.98 billion francs from its foreign currency positions, reflecting increased value and dividends from the stocks and bonds it has bought to tame the Swiss franc.

It also made a profit of 3.5 billion francs on the 1,040 tonnes of gold it holds, reflecting the rise in the precious metal’s market value this year. ($1 = 0.9872 Swiss francs) (Reporting by John Revill, editing by John Miller)

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