Adam Glapiński: You Can Reach for Unrealized Profits From Owning Gold

Rzeczpospolita

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A side effect of the central bank's large gold purchases is unrealized profits from the increase in its value. This amounts to PLN 197 billion, Adam Glapiński, President of the National Bank of Poland, calculated on Wednesday. Poland already has 570 tons of gold. It aims to have 700 tons.

Business Insider (Poland)

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The National Bank of Poland (NBP) is considering active management of its gold reserves. NBP President Adam Glapiński speaks openly about the "higher reason of state" and the safety of Poles. He also mentions unrealized profits reaching PLN 197 billion and real business transactions, which—he emphasizes—would fall within the central bank's mandate and be consistent with national and European law. For now, the central bank is holding off on actio…

rmf24.pl

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Following the outbreak of the war in Ukraine, the National Bank of Poland (NBP) significantly accelerated the increase in its gold reserves, central bank President Adam Glapiński emphasized during his speech on Wednesday. He added that gold reserves have increased in recent years from approximately 200 tons to 570 tons, with the target target being 700 tons. Glapiński stated that the gold price increases have caused its value in NBP reserves to …