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NBP has nearly 600 tons of gold in reserves. Poland is ahead of Turkey
The NBP already holds nearly 600 tons of gold. The target remains higher
NBP continued buying gold and, at the end of April 2026, held 19,151 million ounces of the metal. That means Poland’s gold reserves reached 595,66 tons, up by 14 tons from March and 45,4 tons higher than at the end of 2025.
In practice, that meant gold accounted for 29,7% of Poland’s foreign exchange reserves. That is less than at the end of February, when the share reached 31%, but the earlier target of a 30% share of the metal in foreign reserves has already been achieved.
Since 20 January, a new plan has been in place under which the NBP board wants to increase gold holdings to 700 tons. That leaves 118,4 tons still to go. At a pace of buying similar to that seen in February and March, the target could be reached in 2026.
The NBP valued its gold reserves at nearly $88,4 billion at the end of April. That is almost $3 billion more than at the end of March, but still more than $6,5 billion less than at the end of February. The reason is simple: gold prices in dollar terms fell in March, even as the amount of metal in the vault kept rising.
NBP President Adam Glapiński had previously spoken of 595 tons of gold. He also declared that the target is 700 tons and that the central bank will keep buying the metal.
Poland remains among the world’s biggest gold holders, if the International Monetary Fund is excluded. The NBP now holds more metal than the European Central Bank, the United Kingdom or Spain, and it has recently overtaken Turkey as well.
The Netherlands is within reach after just a few more months of buying. Ahead in the ranking is Japan, with 846 tons of gold, and that country does not intend to sell it. That means Poland may remain around 10th place in the world for some time yet.
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