Poland's central bank says that it will add 100 tons of gold to existing stocks in 2022 - finance
Poland's central bank says that it will add 100 tons of gold to existing stocks in 2022 - finance
The Polish central bank, the National Bank of Poland (NBP), is reportedly planning to increase its gold reserves by 100 tons in 2022. According to bank governor Adam Glapinski, the aim of this decision is to prepare Poland for "unfavorable circumstances". "
status of the safe port of gold
in his remarks during a Interview Newspaper Gazeta Wroclawska explained Glapinski why the NBP decided to increase its gold stocks. He said:
Why does the central bank have gold? Because gold keeps its value, even if someone cuts off the electricity to the global financial system.
Glapinski adds that the central bank does not assume that this will happen, but it still has to be prepared for such a scenario. The report also quotes the governor, who explains why the call of gold (as an asset, which gains in times of increased risks and financial and political crises to value) is such an important attribute for the NBP.
gold as protection against dollar fluctuations
Finally, according to the governor,is also seen as good protection against US dollar fluctuations. Glapinski explained:
"Gold is characterized by a relatively low correlation with the most important asset classes-especially the US dollar that dominates the NBP reserve portfolio-which means that the inclusion of gold in the reserves reduces the financial risk when investing in it."
Meanwhile, the report reveals that the NBP is planning to acquire the gold in mid -2022 when Glapinski expected to be re -elected as a governor.
Do you agree that the inclusion of gold in a reserve portfolio reduces the financial risk of the Polish central bank?
Bedy verification : Shutterstock, Pixabay, Wiki Commons
Kommentare (0)