Poland Surpasses ECB in Gold Reserves, Strengthening Economic Standing

Warsaw: Poland has reportedly overtaken the European Central Bank (ECB) in gold holdings, a milestone that significantly strengthens its position within Europe’s economic landscape.

The National Bank of Poland (NBP) has increased its gold reserves to 550 tonnes, valued at more than €63 billion, compared with the ECB’s holdings of 506.5 tonnes. This expansion underscores Poland’s growing focus on financial resilience and long-term economic stability.

NBP President Adam Glapiński is widely credited with driving the strategy to build up the country’s gold reserves. Under his leadership, the central bank has set an ambitious target of 700 tonnes of gold, which would raise the total value of Poland’s bullion reserves to around PLN 400 billion (approximately US$94 billion). Glapiński has indicated that a proposal to approve this increase would be put before the bank’s board.

The NBP views gold as a strategic asset that is free from credit risk, resistant to economic shocks, and independent of the monetary policy decisions of other countries. A higher share of gold in reserves is seen as a key pillar in safeguarding the stability of the Polish economy.

Gold accounted for 16.86 percent of Poland’s foreign exchange reserves in 2024. By the end of December 2025, this share had risen sharply to 28.22 percent, one of the fastest shifts in reserve composition among central banks worldwide.

Notably, the largest gold purchases were made in the final months of 2025, a period marked by heightened market volatility and geopolitical tensions. During this time, the NBP Management Board, acting on Glapiński’s initiative, decided to further increase gold allocations.

The move aligns with a broader global trend. World Gold Council analysis indicates that central banks worldwide continue to accumulate gold. In its 2025 survey, 95 percent of central banks said they expected global gold reserves to increase over the following year.

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