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Sunday, October 10, 2021

Poland buys more gold


 The head of the National Bank of Poland (NBP), Adam Glapiński, has asked the management board of the central bank for permission to buy another 100 tonnes of gold in order to expand the state's gold reserves. He wants Poland's gold reserves to rise to 10 percent of the central bank's total foreign currency reserves.

"Gold resources held by the National Bank of Poland are almost twice as large as in Sweden (126 tonnes), similar to Belgium (227 tonnes) and slightly less than in Austria and Spain (280 tonnes)," said Glapiński in an interview with the DoRzeczy.pl.

"Nearly half of the gold stock, 104.9 tonnes, is kept in several vaults in Poland, while the remaining 125.4 tonnes are kept abroad, mainly in the Bank of England in London," said the president of NBP.

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