In today’s gold news, it seems China and India aren’t the only countries who are going for it these days. Poland is also going big for gold, in the biggest way in 20 years. The Polish central bank bought 9 tonnes of gold to add to their central reserves in the July-August timeframe. Poland does not comment on their reserve holdings, but analysts believe the recent lows in gold prices made gold very attractive. And, quite possibly, Poland’s central bankers know a good deal when they see one.
Poland is one of the bright spots in Western Europe, ranking among the top 4 economies last year. They must be doing something(s) right. Three other under-the-radar countries also added significantly to their gold holdings last quarter; you’ll have to read today’s featured article to find out who they are.
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