Poland’s central bank increases gold reserves to 583 tonnes after March market correction

Wed Apr 08 2026

The National Bank of Poland (NBP) expanded its gold reserves to just over 583 tonnes in March, taking advantage of a sharp correction in global gold prices, bankier.pl, an economic and financial news website, reported on April 7. Data released by the central bank show that the value of its monetary gold holdings stood at more than $84.4bn at the end of March 2026, down by nearly $9.5bn, compared with the end of February. 

Based on market prices at the end of March, the value of gold points to reserves of about 18.76mn, an increase of around 417,000 ounces compared with officially reported February levels, bankier.pl reported.  This would translate into nearly 13 tonnes of gold purchased during in March, bringing the NBP’s total reserves to about 583.4 tonnes. March would thus mark the second consecutive month of increased gold accumulation, following acquisitions of more than 20 tonnes in February 2026.

March saw heightened volatility in precious metals markets. Gold prices initially surged to above $5,400 per ounce following an Israeli-American strike on Iran, before falling to around $4,100 per ounce. At the peak of the correction, the decline exceeded 24%. NBP has not disclosed the specific timing or prices of its purchases. Official confirmation of March holdings is expected on April 21, when NBP publishes its detailed report on foreign currency liquidity and assets. 

The NBP said in January that its target was to raise gold reserves to 700 tonnes.  NBP has been among the most active buyers globally in recent years, adding nearly 102 tonnes in 2025, almost 90 tonnes in 2024 and more than 130 tonnes in 2023, bringing total additions over the past three years to more than 321 tonnes.

These purchases have lifted Poland to 12th place globally in gold reserves, excluding the International Monetary Fund, with holdings now exceeding those of the European Central Bank, the United Kingdom, or Spain.

Source: https://www.intellinews.com