The purchase, according to the National Bank of Poland, is another step in strengthening Polish reserves.
The rest of the article below the video:
The data on NBP liquid assets and liabilities published on Friday stated that at the end of February, the central bank had 18.34 million ounces of gold, which corresponds to approximately 570 tons.
Read also: The gold price has a black streak. This turn of events will surprise many
This is an increase compared to the end of January, when reserves were 17.69 million ounces, or approximately 550 tons. The purchase of 20 tons of gold in February confirms the intensification of NBP activities in this area.
The National Bank of Poland buys gold. “Financial security of the country”
At the beginning of March, the President of the National Bank of Poland, Adam Glapiński, emphasized that NBP gold reserves had reached the level of 570 tons.
“This is an important element of our strategy to build the country's financial security” – he noted in one of his speeches.
NBP data also shows that the value of gold at the end of February was over PLN 339.8 billion, which means an increase of over PLN 26 billion compared to the end of January.
Converted into euro, this value was almost EUR 80.5 billion (an increase of almost EUR 6 billion), and in dollars – over USD 94.9 billion (an increase of over USD 6.2 billion).
Read also: What is the current price of gold? This has not been the case for 40 years
The purchase of gold by the NBP is part of the global trend of increasing metal reserves by central banks around the world. The increase in the value of gold in NBP reserves also reflects changes in international commodity markets.
