Poland Considers $13B Gold Sale to Fund Defense Amid Ukraine War
Poland's central bank holds 700 tons of gold after aggressive accumulation—130 tons purchased between 2023-2025 alone. Now, Governor Adam Glapinski proposes selling 550 tons to raise $13 billion for military spending. The move would double defense budgets as Russia's war on Ukraine escalates regional tensions.
Gold prices have surged 100% in three years, making reserves politically contentious. President Karol Nawrocki reportedly supports the plan, though no official announcement exists. If executed, Poland would liquidate 78% of its bullion reserves—a sovereign wealth gamble unprecedented in peacetime Europe.