Poland emerges as top gold buyer as prices soar

Poland’s central bank has announced plans to raise the share of gold in its reserve assets to 30 percent, strengthening its position as one of the world’s biggest buyers of the precious metal.

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The bank said it now holds just over 515 metric tons of gold, accounting for 21 percent of its total reserves—more than the European Central Bank, according to the World Gold Council.

Poland's central bank chief Adam Glapiński described gold as “the only safe investment for state reserves” amid “global turmoil and the search for a new financial order.”

Polish central bank chief Adam Glapiński. Photo: PAP/Leszek Szymański

To find out what the decision means in practice, Danuta Isler spoke to Tomasz Gessner, chief analyst at Tavex, a leading precious metals dealer in Poland.

Click on the audio player above to listen.