Poland’s gold reserves surpass Britain’s: reports

Poland’s central bank (NBP) purchased more gold in August, and the country’s gold reserves are now likely bigger than Britain’s, according to the bankier.pl website.

Photo:

National Bank of Poland NBP

At the end of August, Poland’s monetary gold was worth USD 19.65 billion, according to NBP data published on Thursday.

This translates into some 10,108 million ounces, bankier.pl calculated.

This figure is up from 9,628 million ounces of gold officially reported by NBP at the end of July. 

In terms of weight, Poland’s gold reserves rose from 299,47 tonnes to 314,39 tonnes in the course of August, which means NBP bought some 15 tonnes last month, bankier.pl reported.

This means that Polish reserves have likely exceeded the amount of gold owned by Britain, the website added.

W sierpniu Narodowy Bank Polski ponownie zwiększył rezerwy złota – wynika z obliczeń https://t.co/SrqG4z3Cly. W ten sposób najprawdopodobniej polskie rezerwy kruszcowe są już większe od tych, którymi dysponuje…https://t.co/VqcYhSbcJt

— Bankier.pl (@bankier_pl) September 7, 2023

At the end of July, Britain’s gold reserves totalled 310,3 tonnes, a figure that has remained unchanged for years, according to the International Monetary Fund.

If the British government didn’t buy any gold in August, Poland has overtaken Britain in the gold reserves’ league table, bankier.pl reported.

So far this year, Poland’s central bank has bought some 15 tonnes of gold in April, around 20 tonnes in May, some 14 tonnes in June, 22,4 tonnes in July and around 15 tonnes in August, according to bankier.pl. 

(pm)

Source: bankier.pl, NBP