Polish central bank gold reserves rise to 632 tonnes

The National Bank of Poland (NBP) reported that its gold holdings reached 632.4 tonnes at the end of June, an increase of more than 18.5 tonnes from the previous month. The rise brings the bank close to its year‑end target of 700 tonnes, a level that would place Poland among the world’s ten largest gold‑holding nations.

NBP Governor Adam Glapiński said the bank has bought over 82 tonnes of gold in the first half of the year and plans to continue purchasing while prices are low, stating, “We are taking advantage of price drops to buy gold consistently.” The gold reserves are valued at approximately 308 billion zlotys (about 71.5 billion euros). Inspections of the bank’s gold stored in the Federal Reserve Bank in New York and the Bank of England in London confirmed the assets’ authenticity and security.

The Polish increase mirrors a broader trend, with many central banks worldwide expanding their gold holdings despite recent price declines of nearly 30 % from the 2024 peak.