NBP buys more than 31 tons of gold bullion

Narodowy Bank Polski, Poland’s central bank, has become the world’s largest buyer of gold among central banks. During the first quarter of 2026, it purchased more than 31 tons, increasing its reserves to nearly 582 tons and accounting for about 13% of global central bank gold demand. The bank’s long-term goal is to raise reserves to 700 tons, which would place Poland among the world’s top 10 gold-holding central banks. At the same time, countries such as Turkey and Russia have been selling gold to improve liquidity and cover growing budget deficits.

Although Poland does not plan to sell its reserves, rising gold prices produced major unrealized gains for the central bank. Most newly purchased Polish gold is reportedly stored outside the country.

(pb.pl)