Top Gold Buyer Poland to Ramp Up Purchases as Geopolitical Hedge

Poland’s central bank, the world’s biggest reported buyer of gold, is boosting purchases by another 150 tons as it braces for more of the geopolitical instability that has driven prices to record highs.

Surging gold prices aren’t a major obstacle for the National Bank of Poland, which just approved plans to raise its holdings to 700 tons, management board member Artur Sobon told Bloomberg News. Gold has hit new heights as a growing standoff between the US and Europe over the future of Greenland causes investors to pile in to safe havens.