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Ronan Manly: Poland bought nearly 50 tonnes over 3 months and plans to buy another 50
By Ronan Manly
Bullion Star, Singapore
Wednesday, August 2, 2023
Poland's central bank, Narodowy Bank Polski, is officially the biggest central bank gold buyer in the second quarter of 2023, having accumulated a massive 48.52 tonnes of monetary gold between April, May, and June this year. This is the first time in nearly fpir years since the Polish central bank last bought gold for its reserves.
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This large concentrated buying by the Polish central bank during Q2 also puts the bank in third place globally for gold buying during the first half of 2023, behind China and Singapore.
As a reminder, China claims to have bought 57.85 tonnes of gold during Q1 2023, and 45.1 tonnes during Q2, for a first-half 2023 total of 102.95 tonnes.
Singapore claims to have purchased 68.74 tonnes of gold during Q1 2023, and a net 3 tonnes during Q2, for a first half 2023 total of 71.71 tonnes. ...
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