Polish central bank's gold reserves reach 516 tonnes
The National Bank of Poland (NBP) has amassed 515.5 tonnes of gold, totalling 22.4 percent of its total reserves, the central bank said in a report on Tuesday.
"The strategy of the NBP Board to increase the share of gold to 20 percent of total reserves has been completed," the bank said.
The value of the NBP's gold reserves reached USD 54.6 billion as of the end of May, the bank reported.
The NBP's gold reserves have surpassed the European Central Bank's, which holds 506.5 tonnes. The current amount makes the Polish central bank the 12th largest holder of gold reserves in the world, according to the NBP.
"Since the beginning of 2018, the NBP has bought a total of 412.5 tonnes of gold," the NBP added.
The central bank quoted its governor, Adam Glapinski, as saying: "Despite the fact that gold does not pay interest or dividends, unlike shares or bonds, in the long term that covers wars, crises and disasters, it has provided a real rate of return that was close to 3 percent, above the US government Treasuries."
"As of the end of May 2025, the total value of the NBP's official reserve assets reached USD 243.5 billion," the bank reported. (PAP)
jd/jch
