Confirming that they have been lurking around “smoothing” as if we didn’t already know

  • total Oct reserves ex-gold CHF 467.013bln vs 468.672bln prev
  • IMF reserve position CHF 2.194bln vs 2.233 bln prev
  • SDRs CHF 4.37bln vs 4.35bln prev
  • Gold at market value CHF37.519bln vs 38.891bln prev