The National Bank of Poland (NBP) has achieved its goal of accumulating 700 tonnes of gold reserves, with Governor Adam Glapiński hinting at further purchases. In January, the bank announced plans to buy an additional 150 tonnes, and last week, Glapiński confirmed that the target had been met, though official October data is yet to be released.
Poland has been the leading central bank in gold purchases, buying more than any other institution in 2025 and continuing its acquisitions in 2026. As of September, the NBP held 673 tonnes, implying a 27-tonne purchase in October. Glapiński emphasized the importance of monitoring global developments and potential threats to Poland.
The country's gold reserves, valued at 356 billion zlotys ($91.4 billion), have grown significantly from just 14 tonnes in 1996. Glapiński stated that there is no reason to stop buying gold, as it aligns with the overall growth of the country's reserves. He also highlighted gold's role as a safe haven during crises and its ability to enhance Poland's credibility.
Glapiński has previously described gold as 'the only safe investment for state reserves' in times of global turmoil. The NBP plans to increase the amount of gold stored in Poland after completing the renovation of a state-of-the-art vault in Warsaw. Currently, most of the country's gold is held in London, with future plans to distribute it among London, New York, and Poland.