The National Bank of Poland approved a plan Tuesday to purchase up to 150 tonnes of gold, a move that would elevate the country’s total holdings to 700 tonnes and secure its position among the world’s top 10 gold holders.
The central bank held 550 tonnes of gold at the end of December, ranking 12th globally. Governor Adam Glapiński announced that Poland led all central banks in gold purchases during 2025, adding more than 100 tonnes to its reserves throughout the year.
“This will place Poland among the elite 10 countries with the largest gold reserves in the world,” the bank stated in its official announcement.
Poland now holds more gold than the European Central Bank, which maintains approximately 506.5 tonnes. The additional purchases would bring Poland’s gold allocation to roughly 400 billion zloty (€94 billion) in total value.
The National Bank of Poland previously set a ceiling of 30% for gold as a proportion of its overall reserve assets. Officials have not established a timeline for reaching the 700-tonne target, stating that the scale and pace of purchases will depend on market conditions.
Gold represented 28.22% of Poland’s foreign exchange reserves in late December 2025, according to Euronews, marking a significant increase from 16.86% in 2024. The country has accelerated its gold accumulation strategy amid heightened geopolitical tensions and market volatility.
Central bank officials view gold as a strategic asset that provides financial security during uncertain times. Unlike other reserve assets, gold does not depend on any government’s creditworthiness and maintains its value independently of national economic policies.
Gold prices reached historic highs during Poland’s recent buying period. Major financial institutions project continued price strength in 2026, with forecasts ranging from $4,150 per ounce from ING to $4,900 from Goldman Sachs.
Information for this story was found via Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
