Strong global forces pushing some central banks to buy gold – analysts
Poland’s move and others pushed by negative rates, political uncertainty and changing monetary system, experts say
Poland’s central bank has more than doubled its gold holdings in the last two years. Analysts say the factors behind this sharp increase are also pushing other central banks to buy more gold.
“In the years 2018–19, the NBP [National Bank of Poland] gold reserves were increased by 125.7 tonnes and currently amount to 228.6 tonnes,” said the central bank in July. Governor Adam Glapiński said at the time the central bank aimed to create reserves that will safeguard Polish financial security.
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