Polish Central Bank Continues Gold-Buying Spree, Ups Holdings to 420 Tons
Poland has expanded its gold reserves to 420 tons, surpassing Britain’s holdings and positioning itself among the world’s largest gold reserve holders, the central bank said.
The National Bank of Poland (NBP) has added 39 tons of gold just in the last five months, advancing toward its goal of holding 20% of its foreign exchange reserves in the precious metal, up from the current 15%.
“Poland has entered the club of the world’s largest gold reserve holders,” NBP Governor Adam Glapiński said.
Glapiński emphasized gold’s role as a hedge against financial crises, stating: “Gold retains its value even in the event of a systemic collapse in the global financial network, where digital assets may fail.” The metal’s immunity to credit risks and monetary policy devaluation makes it a particularly robust asset, he added.
The focus on gold holdings is rooted in Poland’s history, from German occupation during World War II to Soviet-era control, highlighting the value of secure, tangible assets.
“For many families, gold has been a lifeline through turbulent times, a tradition passed down for survival and security,” said Marta Bassani-Prusik, head of precious metals trade at the Mint of Poland.
Poland’s move comes amid growing global economic uncertainties, with central banks worldwide increasingly viewing gold as a key component of their reserve strategies.
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