Poland’s central bank has been the world’s largest sovereign gold buyer this decade, acquiring over 130 tons between 2023 and 2025 to boost its reserves to 700 tons. With gold prices having doubled in that period, Governor Adam Glapinski is reportedly weighing a plan to sell 550 tons to raise $13 billion. The funds would finance defense spending, including potential F-35 fighter jet purchases, amid regional security concerns, though the government has not officially confirmed the proposal.
Poland’s central bank has purchased over 130 tons of sovereign gold since 2023, making it the world’s leading buyer this decade. The additions have increased its total reserves to 700 tons of the precious metal.
The price of gold doubled rapidly during this three-year period, significantly boosting the value of the bank’s holdings. Bloomberg reported that central bank Governor Adam Glapinski now plans to sell 550 tons to generate $13 billion. A source stated the funds would be invested in Poland’s defense sector to protect national interests.
The proposal has reportedly gained the approval of President Karol Nawrocki, according to a source familiar with the matter. However, the government has not officially released the plan, and decisions are being made privately.
President Nawrocki declined to reveal specifics when asked about the plan during a press conference. He made a statement regarding potential military purchases, saying, “If we believe that American F-35 aircraft are good for the Polish armed forces and are the most technologically advanced in the world, then we could purchase them from the Polish SAFE 0% program.” The proposal may still be in initial stages as it requires special legislation.
