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POLAND: NBP World's Biggest Buyer of Gold, Reaches 15% of Total Reserves

POLAND
  • Data released late yesterday by the World Gold Council showed Poland's NBP as a major net buyer of gold over July, who added gold to reserves at a faster pace than the other biggest buyers including India's RBI and the Central Bank of Uzbekistan.
  • The NBP added 14 tonnes of gold in July, the largest net gold increase since November of last year - extending the buying streak triggered in April - amounting to 33 tonnes over four months.
  • Gold holdings at the NBP amount to 15% of total reserves, as of July - or 392 tonnes.

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