Poland boosts its gold reserves by 15 tonnes, biggest increase in nearly 3 years gold centralbanks Poland
Polish central bank bought 14.8 tonnes of gold in April, which was the biggest purchase since June 2019.
The value of gold, including gold deposits and gold swapped, climbed to $15.52 billion in April from $14.55 billion. "Why does the central bank own gold? Because gold will retain its value even when someone cuts off the power to the global financial system," Glapinski told local newspaper."Of course, we do not assume that this will happen. But as the saying goes - forewarned is always insured. And the central bank is required to be prepared for even the most unfavorable circumstances. That is why we see a special place for gold in our foreign exchange management process.
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