515.5 tons of gold At the end of May it was worth it $ 54.6 billion or EUR 48.2 billion – the National Bank of Poland said. This means that the NBP has more gold than the European Central Bank (he has 506.5 tonnes) and Bank of England (310.3 tonnes) and gives the Polish institution the 12th place in this respect among all central banks in the world.
Gold, NBP and Adam Glapiński
Within nearly 7.5 years (from the beginning of 2018), the bank bought a total of 412.5 tons of gold, including 67.2 tons only for the first five months of 2025. In accordance with the Specified World Gold Council, in the first quarter of this year, the NBP was his greatest buyer in the world when it comes to institutions. During these three months he bought 49 tons of ore, with all central banks purchased a total of 243.7 tons.
Increasing gold resources for years was very important for the President of the NBP, Adam Glapiński. He talked many times on this subject during public speeches, including press conferences after the MPCs. Emphasized that He would like 20 percent reserves of the Polish Central Bank was in gold Exactly. For example, at the beginning of May, he revealed that gold reserves exceeded 509 tons and are already 22 percent. reserves – I declared that we would systematically increase the resources, today I can proudly say: NBP team kept the promise of a given Poles, we achieved our goal – he boasted then.
Why NBP gold? Key reserves
The value of all reserves of the National Bank of Poland amounted to 243.5 billion dollars, i.e. EUR 215.1 billion. What is he doing with them? “The National Bank of Poland in investing foreign exchange reserves is mainly guided by the security and liquidity criterion. Only after meeting these conditions strives to achieve the highest rate of return in the long run. Debt non -governmental securities, as well as in the units of participation of investment funds, thanks to which it obtains a diversified exposure to the global stock market.
These are foreign exchange reserves. AND Why NBP gold? Is treated as a securitybecause it maintains value and does not depend on the economic policy of any country. By investors in markets it is treated as so -called Safe marina in times of uncertainty or crisis. So if there are concerns related to the economy of countries or regions in the markets, but also the geopolitical situation investors are more likely to invest their funds in gold. That is why golden ratings are growing at crisis times.
“Thanks to the consistent strategy of increasing gold reserves, NBP diversifies the risk of foreign exchange reserves and increases their profitability. Although gold does not pay interest or dividends as shares and bonds, in the long run covering wars, crises and disasters reached a real rate of return close to 3 percent.exceeding the US government bonds, “says President Glapiński, quoted in the NBP announcement.
Where is this gold and what does the NBP want to do with it?
Precedey ore reserves are stored in three places: in Poland, London and New York. After large purchases from recent years outside the country, the NBP held about 80 percent. gold. – At the moment it's about one quarter [w Polsce – red.]because it is gold that we buy now, it is bought mainly in London and is immediately in London in a treasury. As we get a full 20 percent reserves in gold, it We will organize one large transport of gold from London to Poland. And there will be a third in Poland, one -third in London and the third in New York – Adam Glapiński said at the beginning of April.
On whether this happened, journalists will have the opportunity to ask him soon, at the beginning of July, during a conference after a monetary policy council meeting on interest rates.
What does NBP want to do with this gold? It is not intended to get rid of it, at least for now. – At the end of 2024, the differences in gold valuation made over PLN 60 billion, today they are much higher, […] We “earned” over PLN 60 billion, but this is of course a paper profit, because We are never going to sell gold – The president of the NBP explained in May.