At the end of 2020, there was 228.7 tons of gold in the central bank’s treasury, the NBP reported in its annual report. The total value of the metal reached PLN 52.3 billion.
It was 7.5 percent. NBP assets at the end of 2020 – the central bank informed.
The NBP holds gold that meets international purity standards (presented in the assets of the balance sheet), which is kept at the Bank of England (on a current account or in term deposit accounts) and in the vaults of the NBP.
During the term of Adam Glapiński, the NBP purchased 126 tons of gold and transported 100 tons to Poland from England. It plans to purchase another 100 tons in the coming years – this is what the president of the central bank said in the March interview for the weekly magazine “Sieci”.
Most of the gold currently in the NBP treasury was purchased in November 2019. At that time, NBP completed the operation of relocating 100 tons of gold from England to Poland. As it was reported then, the central bank has a total of 228.6 tons of gold, of which 123.8 tons of gold worth PLN 28.3 billion was stored in the Bank of England.
In 2018-2019, the NBP gold reserves were increased by 125.7 tons (by 122%). In terms of the scale of purchases of this precious metal in the last five years, we are the fifth country in the world, according to World Gold Council data.
As a result, Poland has the 23rd largest gold reserve in the world. But the proportion of gold to all the country’s financial reserves – 8.7 percent. at the end of March according to the World Gold Council – we are only 51st in the world, similar to Kuwait, Argentina, Syria and Libya. The largest share of gold in reserves is that of Venezuela (83.3%), Portugal (81.6%), the USA (78.6%) and Germany (75.7%).
Russia buys the most gold: 880.9 tonnes in the last five years and 1,506.8 tonnes in the last 10 years. It is followed by: Turkey (+410.8 tonnes in five years), China (+186 tonnes in five years and +894.2 tonnes in ten years) and Kazakhstan (+168.9 tonnes in five years and +323, 4 tons in ten years). Venezuela was getting rid of it (-111.7 tonnes in the last five years), but also in Germany (-18.5 tonnes in the last five years and 38.5 tonnes in ten years).
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