SNB Returned to Profit in Second Quarter on Currencies, Gold

The Swiss central bank returned to a profit in the second quarter from a year earlier, helped by gains on its foreign-currency positions and gold holdings.

The profit of 8.2 billion francs ($8.4 billion) compares with a loss of 12.7 billion francs in the year-earlier period, the Swiss National Bank said in an e-mailed statement today. Foreign currency positions contributed with a profit of 7.7 billion francs after a loss of 11.5 billion francs in the previous year. The SNB earned 502.3 million francs on gold holdings after a loss of 1.6 billion francs.