While most buyers hesitate when prices wobble, Poland’s central bank reached for its wallet. The National Bank of Poland (NBP) purchased roughly 13 tonnes of gold in March 2026, timing the buy to coincide with a notable market decline, then followed up with another 14 tonnes in April.
That 27-tonne, two-month shopping spree is part of a much larger plan. In January 2026, the NBP’s board approved a strategy to add 150 tonnes of gold to its reserves, targeting a total of 700 tonnes. The April purchase alone made Poland the single largest central bank buyer of gold that month.
Poland’s gold rush by the numbers
Year-to-date gold purchases through April 2026 reached 45 tonnes, bringing the NBP’s total reserves to approximately 595 tonnes. That gold now represents about 30% of Poland’s overall reserves, up from 28% at the end of 2025.
For context, Poland added 102 tonnes of gold in 2025 alone, making it the largest central bank gold buyer globally that year. The country ended 2025 with 550 tonnes. So in roughly 16 months, Poland has added nearly 150 tonnes.
