After Polish Prime Minister Donald Tusk demanded to know why Poland’s Central Bank holds gold reserves not only in Poland but also in two other locations around the world, National Bank of Poland (NBP) President Professor Adam Glapiński has told press that it does so for “security reasons.”
Recently, Donald Tusk, among others, appealed to the NBP President to “finally return all Polish gold to the country.”
“We decided to keep this gold scattered in different places… in Poland, London and New York for security reasons,” Glapiński said during a press conference. He admitted that he doesn’t like to talk about this fact so as not to spread panic, but, as he explained, such a gold storage policy “is required,” reports wPolityce.
“I’m hearing voices again from prominent public figures, meaning well-known ones, on the Xth floor, in the Sejm, in all media, that all the gold should be immediately brought to Poland and kept here, preferably in Rzeszów, or perhaps, let’s say, for safekeeping by Ukrainians in Kyiv. These are people who consider themselves intelligent. I haven’t said this before, but I’m saying it now because others are saying such nonsense,” said the NBP president.
He also announced that “a few months ago,” he ordered the preparation of a draft resolution of the NBP management board, which would allow for the import of “further large amounts of gold to Poland, but without violating the principle of dispersing it to these three places.”
“There has been an exceptional amount of gold accumulation in London, where we are buying it, because we are heading towards 700 tons, so we will bring a large batch of gold to Poland,” Glapiński said.
He added that construction work is currently underway on a building that will house “a state-of-the-art vault that meets all global requirements, is spacious and large. At the moment, we mainly have gold in another safe place. We are going to physically inspect our gold in London, and our special team will go and touch the bars, check their numbers, etc. We do this routinely,” said Glapinski.
Donald Tusk, among others, had earlier this month demanded Polish gold only be stored in Poland, with the Polish prime minister posting on X: “Let this Polish gold, because it is not the gold of Messrs. Nawrocki, Glapiński or Tusk, which is now scattered among banks in several places around the world, finally return to the country.”
Glapiński also spoke about the NBP’s handling of Polish gold. “The National Bank of Poland (NBP), as the central bank, is responsible for the safekeeping and management of Poland’s gold reserves. Gold, like other reserve assets, is intended for the implementation of tasks carried out in the public interest.”
“We have various currencies, primarily dollars and euros…. and we have gold… We have always been restructuring our reserves, like any other central bank… Changes are constantly taking place, and gold is just like any other element of reserves. Gold can be sold, bought, traded, etc,” he said.
“The only place where gold is traded is London, which is why we have the most gold in London. At the end of February 2026, we had foreign exchange reserves totaling over one trillion złoty (€230 billion). Of this, gold represents the equivalent of approximately 340 billion złoty. Our gold reserves have increased in recent years from 200 tons to 570 tons. You can see the very dynamic growth.”
He recalled that the National Bank of Poland began to dynamically increase its gold reserves after Russia’s attack on Ukraine. “We will keep buying gold until we reach 700 tons, because that’s where we are on the political map…. A country that borders a war zone is subject to special scrutiny. Investors and international institutions assessing our credibility take our reserves into account,” he said.
