Narodowy Bank Polski, Poland’s central bank, has acquired roughly 82 tons of gold so far in 2026, a pace that would make it one of the world’s most aggressive sovereign buyers this year. The bank started the year with approximately 550 tons of gold reserves, reached about 581.64 tons by the end of Q1, then added an estimated 14 tons in April and 19 tons in May.
The 700-ton ambition
In January, NBP approved plans to purchase an additional 150 tons of gold total, targeting 700 tons in total reserves. That would place Poland among the top 10 gold-holding countries on the planet.
Governor Adam Glapiński has been the architect of this strategy. Under his tenure, Poland’s gold reserves have grown more than fivefold. He’s framed the buying spree as a shield against geopolitical risk and a way to reduce reliance on traditional reserve currencies.
Gold is now expected to comprise up to 30% of Poland’s total reserves. That’s a sharp increase from the 20% target the bank had set just in late 2025.
