The world’s biggest sovereign gold buyer might start selling to double defense budget | Metals Mine

  • The world’s biggest sovereign gold buyer might start selling to double defense budget

    From kitco.com

    Poland has been the biggest buyer among the world’s central banks for the last two years, and a major support for the gold rally that has taken place over that time. Now, facing year four of the intractable conflict between Russia and Ukraine on its Eastern border and a NATO alliance in flux, the Eastern European nation is considering the unthinkable: selling its gold reserve to fund a massive military buildup. Adam Glapinski, Governor of Poland’s central bank, has outlined a proposal to raise as much as $13 billion from the sale of the country’s gold reserves to finance a doubling of its defense budget, ... (full story)

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