The precious metal industry: The other Swiss success story
The precious metal industry draws on the country’s competitive advantages and contributes to its prosperity. Its success rests on an extremely strict legislative framework that has made Swiss producers pioneers within the profession and authorities in the international gold market. This success is also based on underlying competitive advantages, in particular on rigorous management, a sense of innovation, skilled personnel and close links with downstream sectors, such as the watch and jewellery industry and banks.
The precious metal industry contributes to Switzerland’s prosperity by creating 1500 direct and 1000 indirect jobs. These are skilled jobs requiring a high degree of competence and offering wages above the average customary in the industrial sector.
The leading position Switzerland occupies on the global gold market is strategically important given its growth potential. Taken together, the watchmaking industry, a major employer generating over 55,000 full time jobs in Switzerland, and the precious metal industry constitute a hub of high added value industrial practices that are mutually beneficial in helping them meet their objectives.
The precious metal industry: The other Swiss success story
The precious metal industry has a long history within Switzerland. It plays an essential role in Switzerland’s economy, generating a high percentage of national exports. The Swiss precious metal industry is extremely competitive and has an excellent reputation worldwide.
The precious metal industry draws on the country’s competitive advantages and contributes to its prosperity. Its success rests on an extremely strict legislative framework that has made Swiss producers pioneers within the profession and authorities in the international gold market. This success is also based on underlying competitive advantages, in particular on rigorous management, a sense of innovation, skilled personnel and close links with downstream sectors, such as the watch and jewellery industry and banks.
The precious metal industry contributes to Switzerland’s prosperity by creating 1500 direct and 1000 indirect jobs. These are skilled jobs requiring a high degree of competence and offering wages above the average customary in the industrial sector.
The leading position Switzerland occupies on the global gold market is strategically important given its growth potential. Taken together, the watchmaking industry, a major employer generating over 55,000 full time jobs in Switzerland, and the precious metal industry constitute a hub of high added value industrial practices that are mutually beneficial in helping them meet their objectives.
Founded in 1978, the Swiss Association of Manufacturers and Traders of Precious Metals (SVPMA) has 15 members representing some 1,500 employees.
MEET OUR MEMBERS
All our members are service providers. They represent 95% of the precious metals handled in Switzerland, 90% of which is gold.
MEET OUR MEMBERS
All our members are service providers. They represent 95% of the precious metals handled in Switzerland, 90% of which is gold.
OUR COMMITMENTS
The quality of the precious metal industry relies just as much on unique expertise as it does respect for ethical principles and conduct. The legal framework, particularly in Switzerland, is extremely strict and gives Swiss refiners a pioneering and benchmark status on the international precious metals market. Durability has become a strong value for all our members, committed to a way of thinking that combines ethics, the environment and human rights in particular.
SUPERVISORY AUTHORITIES
In Switzerland: One of the strictest legislative frameworks in the world.
Swiss legislation regarding the processing and trading of precious metals is among the strictest in the world.
RESPONSIBILITY AND SUSTAINABILITY
Beyond legal considerations, it is up to the various Swiss refiners to implement the measures, norms and standards to enable them to continue to operate as refiners, but based on an ethical approach, centred on respect for human and environmental rights.
SUPPLY CHAIN AND TRACEABILITY
A supply chain that is subject to different standards.
INITIATIVES
Several concrete initiatives in the field of gold and precious metals have been implemented in Switzerland, such as the Better Gold Initiative.