Polish central bank plans to buy 100 tonnes of gold

Poland's central bank has announced plans to buy 100 tonnes of gold over the next few years.

Adam Glapiński, governor of the National Bank of Poland (NBP).

Photo: PAP/Leszek Szymański

The purchase is designed to increase the bank’s gold reserves, its chief Adam Glapiński said in a media interview published this week.

Narodowy Bank Polski zamierza w ciągu kilku lat dokupić 100 ton złota na rezerwy i trzymać je w Polsce razem z obecnymi 229 tonami. https://t.co/XideFFOJS3

— Polskie Radio (@polskieradiopl) March 16, 2021

The announcement comes after the National Bank of Poland (NBP) said in November 2019 it had brought into the country around 100 tonnes of gold from safekeeping in the Bank of England.

The Polish central bank said in July 2019 that Poland’s gold reserves had increased to 228.6 tonnes, growing by 125.7 tonnes from a year earlier.

The National Bank of Poland also said at the time that the country had moved up from 15th to 11th place in Europe in terms of gold reserves, and from 34th to 22nd worldwide, thanks to a series of purchases.

(gs/pk)

Source: polskieradio24.pl