Swiss gold or smuggled Zimbabwean gold? No one knows

Once gold gets a Swiss stamp on it, it becomes attractive to customers such as banks. [Giuseppe Cacace/AFP]

To many people around the world, Switzerland is synonymous with the Alps, fine chocolates and designer watches.

To those in the bling business, the European nation has another identity: it is the world’s largest exporter of gold. In 2021, Switzerland sold nearly $87bn of the precious metal, almost as much as the next three biggest exporters – the United Arab Emirates (UAE), the United Kingdom and the United States – combined.