Poland aims to increase gold reserves


Repost from 9-29-2021

Photo of pallettes of gold bars purchased by Hungary's central bank“Gold is the ‘best reserve’ of our reserve assets. Iit diversifies geopolitical risk and is a sort of anchor of confidence, especially in times of tension and crisis. Therefore, continuing the current policy, we will strive to increase our gold resources, but the scale and pace of purchases will depend on, among other factors, the dynamics of change in official reserve assets and current market conditions.” – Adam Glapinski, President, National Bank of Poland

USAGOLD note: Poland, according to previous reports cited here at USAGOLD, hopes to buy 100 tonnes of gold or more in the coming years. Locating gold in size is always a problem for the acquiring central banks. When it comes to physical metal, it is a seller’s market despite the lower pricing this year.

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