Recently soaring prices of gold have significantly upped the value of Poland’s reserves of the precious metal, the head of Poland’s central bank (NBP) said during a press conference on Thursday.
NBP governor Adam Glapiński said that the price of gold increases “every day” and that it went up again after U.S. President Donald Trump’s unveiled his new tariff policies, on Tuesday.
He said that the value of the gold Poland purchased only recently had risen by about 40 billion zlotys (€9.45 billion) due to differences in prices since the time of the purchase.
At the same time, he stressed that NBP’s purpose in purchasing gold is not to sell it for profit but as a reserve for “possible difficult times.”
In mid-March, Glapiński said that NBP had expanded its gold reserves to 480 tons, and is close to expanding it to 500 tons, adding that Poland had the world’s 13th largest state-owned stockpile of the precious metal.
He said that the value of the gold Poland purchased only recently had risen by about 40 billion zlotys (€9.45 billion) due to differences in prices since the time of the purchase.
At the same time, he stressed that NBP’s purpose in purchasing gold is not to sell it for profit but as a reserve for “possible difficult times.”
In mid-March, Glapiński said that NBP had expanded its gold reserves to 480 tons, and is close to expanding it to 500 tons, adding that Poland had the world’s 13th largest state-owned stockpile of the precious metal.
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