SNB sees gold as good diversification tool

The Swiss National Bank still sees gold as a good tool to diversify its reserves even though the central bank is gradually selling off half its original holdings of the metal, SNB Chairman Hans Meyer said.

"We still believe in gold and remain one of the world's biggest gold holders," he told Britain's Financial Times in an interview, but he noted Swiss gold holdings were as large as those of Germany or France - countries 10 times its size.

"Gold will remain a perfectly good way for diversifying