0.53 million ounces more in the treasury of the Polish central bank is about 16.5 additional tons. In February, the NBP bought 29 tons. Together this year, he increased the reserves by almost 49 tons. In total, we will already have 496.8 tons of gold in Polish reserve assets. For comparison, the European Central Bank has 506.5 tons – according to the latest data of the World Gold Council with an update to February this year.
The share of gold in the NBP reserves at the end of December 2024 was 16.9 percent. The central bank plans to increase the share of gold to 20 percent. all of the foreign exchange reserves, but it has exceeded this participation. According to NBP data At the end of March, gold was already 21 percent. values of reserve assets. It seems that this is the end of great purchases of the NBP, unless it changes the destination.
Over $ 4 billion for gold
How much did it cost? Taking the average price of an ounce of gold from the Comex market, March purchase of the NBP could cost around $ 1.6 billion. The purchase in February could have $ 2.4 billion, and in January $ 280 million. In total, the National Bank of Poland spent $ 4.3 billion on the purchase of gold this year. It paid off. In April, gold ounces broke 3.3 thousand. hole. And they set new historical records.
In its data, NBP also states that the value of gold in the NBP reserves increased $ 12.2 billion. This is also the result of new purchases and the increase in the valuable ore course.
Author: Jacek Frączyk, Business Insider Polska editor
