In a March interview with the weekly “Sieci”, Adam Glapiński, president of the Polish National Bank, announced that in the next few years Poland will want to buy at least 100 tons of gold, which will be kept in the country. – It’s important m.at. In the perception of the state and its economic strength – he said.
NBP and more than 228 tons of gold
The National Bank of Poland published its financial statements on December 31, 2020. From the document, we can find out that the Central Bank has 228.7 tons of gold that complies with international purity standards. The value of the collected gold exceeds 52 billion PLN. Polish gold is kept in the vaults of the National Bank of Poland and the Bank of England (in the current account and in time deposits). There are 104.9 tons of gold in NBP and 123.8 tons offshore.
NBP: Gold is a factor of confidence, especially in times of tension and crisis
At the beginning of the year, the head of the NBP, Adam Glapinsky, announced that the share of gold in the Polish currency reserves should double. – He said that in the next session of the Board of Directors of the Central Bank, gold reserves should increase from 9%, which is the global average, to 20%, which is the European average.
NBP has been in the process of increasing gold reserves for several years. In 2019, more than 100 tons of gold were delivered from Great Britain to Poland. In 2018, the central bank bought 25 tons of gold. In 2018-2019, gold reserves NBP increased by 122%. As central bank representatives explain, gold “is a kind of anchor of confidence, especially in times of tension and crisis.” In the past, NBP explained buying more gold with the good economic situation and increasing foreign exchange reserves by more than 30 billion euros.