According to an official report from the Central Bank of Poland, this year 100 tons of gold were bought for the country's reserves, which are kept by the Bank of England in London. This precious metal must be delivered to the country.

Last Friday, the Central Bank of Poland (Narodowy Bank Polski) published an official report stating that in 2018-2019. 125.7 tons of yellow precious metal was purchased. Now Poland’s gold reserves amount to 228.6 tons. Only this year, 100 tons of precious metals were bought for state reserves.

The NBP also says that "gold is the best way to diversify foreign exchange reserves, as it can compensate for geopolitical risks, as well as a factor of confidence, especially during times of crisis and financial uncertainty."

Poland’s good economic development makes it possible to gradually increase the country's currency reserves, which have already grown by 30 billion euros over the past five years. At the same time, gold reserves are growing, which creates more confidence in the eyes of large investors, which means Poland’s financial strength will grow stronger. In the event of a crisis, Poland will be able to more easily endure difficult times thanks to significant international reserves.

According to the NBP, part of the Polish gold was kept by the Bank of England in London. In June of this year, the employees of the Central Bank of Poland conducted an audit of the precious metal in order to verify its availability and confirm the quality. Now Poland wants to return most of its gold from London. "Considering the growth of our gold reserves and the practice of other central banks, the NBP board of directors decided to transfer half of the gold (about 100 tons) to Poland. The Bank of England has already been notified of this intention. The precious metal will be transported according to an approved plan to guarantee its safety." This is stated in the message of the bank.