Poland’s Central Bank Increases Gold Reserves By Over 125 Tonnes

July 9, 2019

Gold reserves of the National Bank of Poland (NBP) have risen by 125.7 tonnes to 228.6 tonnes, the bank announced on Friday.

NBP governor Adam Glapiński added that that it had been possible to take action to repatriate a significant portion of Poland’s gold.

The central bank announced on Friday that it had “carried out the strategic decision of the NBP management board to significantly increase the NBP gold reserves within the foreign currency reserves.”
“In the year in which we celebrate the centenary of Polish independence, as a foundation of the economic strength of our country, it has been possible to increase the strategic reserves of gold and undertake actions with the aim of repatriating a significant portion of Poland’s gold,” Adam Glapinski was quoted in a bank press release as saying.

“Carrying out our constitutional, legal and simply patriotic obligation, we are not only building the economic strength of the Polish state, but also creating reserves which will guard its financial security.

“Such is the global trend but also the expectation of Polish society.”

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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

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