Home News Poland Accelerates Gold Buying: Plans to Purchase 100 Tonnes During 2022

Poland Accelerates Gold Buying: Plans to Purchase 100 Tonnes During 2022

October 11, 2021

by Ronan Manly
Bullion Star

Poland’s central bank, the National Bank of Poland (NBP), which stunned gold markets back in 2019 when it purchased 100 tonnes of gold bars in London and then promptly flew the gold back to Warsaw, has just confirmed that it now plans to buy another 100 tonnes of gold during 2022.

The news was confirmed this week by Adam Glapinski, president of Poland’s central bank, in a 5 October special interview with Polish magazine ‘Strefa Biznesu’ in advance of the ‘Congress 590’ economic conference in Warsaw. As well as heading the Polish central bank, Glapinski is also an economics professor.

While Poland currently holds 230 tonnes of monetary gold reserves and sits in 24^th place in the world sovereign gold holdings table, the planned addition of 100 tonnes of gold during 2022 would boost the country’s gold reserves to 330 tonnes and catapult Poland up to 18^th place in the rankings, ahead of major gold holders such as the UK, Saudi Arabia, Austria, Spain and Thailand.

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