Poland Raises Gold Reserves to 700 Tonnes and Aims for Global Top 10

The National Bank of Poland (NBP) has announced a strategic decision to increase Poland’s gold reserves to 700 tonnes. Once this target is reached, Poland is expected to become the 10th largest holder of gold reserves in the world, joining an elite group of countries that treat gold as a key pillar of national financial security.

According to the NBP, gold plays a crucial role in stabilising foreign exchange reserves. It is free from counterparty risk, independent of any single currency, and historically resilient during periods of global economic turbulence.

Rapid Growth of Gold Reserves Since 2020

Poland’s gold accumulation strategy has accelerated significantly in recent years. Since 2020, the scale of increase has been exceptional by international standards:

• 2020 – approximately 230–240 tonnes of gold in reserve

• 2021–2022 – steady accumulation, pushing reserves above 300 tonnes

• 2023 – major purchases lifted reserves beyond 400 tonnes

• Mid‑2024 – reserves exceeded 500 tonnes

• End of 2025 – around 550 tonnes of gold held by the NBP

• Target level – 700 tonnes, implying additional purchases of roughly 150 tonnes in the coming period

This means Poland has nearly tripled its gold reserves in just five years, making the NBP one of the most active gold‑buying central banks globally.

Entry into the World’s Top 10

With current holdings of around 550 tonnes, Poland already ranks just outside the global top ten. Reaching 700 tonnes would firmly place the country among the ten largest national gold holders worldwide, alongside economies such as the United States, Germany, Italy, France, Russia, and China.

This ranking is not only symbolic. Large gold reserves are widely perceived as a signal of:

• long‑term financial stability,

• strong sovereign credibility,

• reduced exposure to currency and geopolitical risks.

Strategic Rationale Behind the Policy

The NBP emphasises that gold is not intended for short‑term trading. Instead, it is treated as a strategic, long‑term asset that enhances Poland’s economic sovereignty and resilience to external shocks, including financial crises, inflationary episodes, and geopolitical uncertainty.

A significant portion of Poland’s gold is stored domestically, further reinforcing national control over strategic reserves.

A Clear Signal to Global Markets

The decision to raise gold reserves to 700 tonnes sends a clear message: Poland is building a robust and diversified reserve structure comparable to the world’s leading economies. Over the past five years, few countries have expanded their gold holdings as rapidly.

As global uncertainty persists, Poland’s gold strategy positions the country as one of the most financially secure and forward‑looking economies in Central and Eastern Europe.