Poland’s central bank purchased 7.8 metric tons of gold in July, raising its official reserves to 640.2 metric tons, the National Bank of Poland reported on Friday.
The July acquisition, equivalent to 250,000 troy ounces, was the smallest monthly increase since December, based on World Gold Council data. The central bank’s gold holdings stood at 20.3 million troy ounces at the end of June, increasing to 20.6 million troy ounces by month-end.
Poland remains the largest gold buyer among central banks that have disclosed purchases this year, according to the World Gold Council. The bank has previously outlined plans to expand its gold reserves to 700 metric tons, a target first announced in a May statement by central bank chief Adam Glapinski.
