Poland’s 50/50 Gold Buying: 50 Tonnes Bought Over 3 Months, but Another 50 Tonnes to Go

August 03, 2023

by Ronan Manly Bullion Star

Poland’s central bank, Narodowy Bank Polski (NBP), is officially the biggest central bank gold buyer in the second quarter of 2023, having accumulated a massive 48.52 tonnes of monetary gold between April, May and June of this year. This is the first time in nearly 4 years since the Polish central bank last bought gold for its reserves.

This large concentrated buying by the NBP during Q2 also puts the Polish central bank in third place globally for gold buying during the first half of 2023, behind China and Singapore.

As a reminder, China claims to have bought 57.85 tonnes of gold during Q1 2023, and 45.1 tonnes during Q2, for a first half 2023 total of 102.95 tonnes. Singapore claims to have purchased 68.74 tonnes of gold during Q1 2023, and a net 3 tonnes during Q2, for a first half 2023 total of 71.71 tonnes.