Poland is repatriating gold from overseas, after it more than doubled its bullion holdings in the past year. Central banks all over the world have been stocking up on gold in recent years, shifting away from the US dollar.
The National Bank of Poland (NBP) has bought 100 tons of the precious metal since the beginning of this year, nearly four times more than it added to its reserves in 2018.
Now Warsaw wants to bring a significant part the precious metal back home, repatriating it from the Bank of England. The NBP wants to transfer at least 100 tons and store the repatriated bullion in its vaults.