The Polish central bank, the National Bank of Poland (NBP), is reportedly planning to raise its gold reserves by 100 tons in 2022. According to bank governor Adam Glapinski, the objective of this decision is to prepare Poland for “the most unfavourable circumstances.”
Gold’s Safe Haven Status
In his remarks during an interview with the Gazeta Wroclawska newspaper, Glapinski explained why the NBP has chosen to increase its gold holdings. He said:
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 adds that while the central bank is not assuming this will happen, it is still required to be prepared for such a scenario. The report also quotes