The National Bank of Poland (NBP) continues its vigorous program of gold purchases, underscoring the country’s commitment to bolstering its financial security. According to the latest data, Poland’s gold reserves have risen by an additional 3.11 tonnes in January, bringing the total to approximately 451 tonnes. This move aligns with the central bank’s long-term strategy to make gold account for 20% of the country’s foreign exchange reserves.
A Steady Climb in Gold Holdings
Recent statistics from the NBP indicate that the total value of Poland’s gold reserves now stands at around USD 40.5 billion—an increase of 100,000 ounces compared to December. Last year, Poland emerged as the largest gold buyer among central banks worldwide, acquiring 90 tonnes of the precious metal. In doing so, Poland surpassed notable purchasers such as Turkey, the Czech Republic, and Hungary, reinforcing its position in the global financial arena.
Gold as a Safeguard in Uncertain Times
The NBP views gold as a strategic hedge against economic turbulence, valuing its protective function over any potential profit from resale.
“We are not buying gold to sell it for profit. It is a safeguard for all Poles in case of threats,” emphasized the NBP President, Adam Glapiński.
Currently, Poland’s 451 tonnes of gold are gradually closing the gap with the European Central Bank, which holds 506.5 tonnes. Should this pace of acquisition persist, Poland could soon secure its place among the countries with the world’s largest gold reserves, bolstering both its economic resilience and global financial standing.