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The Polish Central Bank intends to sell gold reserves to fund defense plans
The Governor of the Polish Central Bank proposed a plan to raise up to 48 billion zloty (approximately $13 billion) by selling gold reserves to fund defense spending, a plan supported by the Polish President. Governor Adam Glapinski outlined the proposal during a meeting with the president on Wednesday. Glapinski informed the president that the Polish Central Bank could generate profit by reducing a portion of its approximately 550 tons of gold reserves and then repurchasing it later. Data shows that the Polish Central Bank has been the world’s largest publicly reported gold buyer.