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Saturday, April 13, 2024

    100 Tons Of Gold Transported To Poland

    100 Tons Of Gold Transported To Poland(Kitco News) – Poland repatriated 100 tons of gold from the Bank of England’s storage in London, the National Bank of Poland said earlier this month.

    G4S’s International Logistics arm was tapped with arranging the transport. The company said the movements of gold were meticulously coordinated. The transport required the cooperation of the police, the Bank of England, the Narodowy Bank Polski and G4Si.

    The operation took place at night and over the past few months and totalled eight trips. The gold was transported in a Boeing 737 freighter plane. The gold bars were escorted by police and helicopters. When the gold arrived in Poland, it was transported under full police escort to the country’s central bank vaults.

    The gold bars that were transported were London Good Delivery bars, each weighing 12.5kg and stamped with serial numbers for tracking.

    “This is one of the biggest private movements of gold between banks in the world,” said a G4Si employee who accompanied the gold. “It involved a huge amount of planning in a short period of time. We liaised with police forces, representatives from both central banks, arranged insurance – it’s $US5bn worth of gold, after all.”

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    Repatriating Poland’s “symbolizes the strength of the country” said Poland’s central bank, Governor Adam Glapinski.

    Poland’s precious metals will now be stored in the central bank’s treasury, NBP noted.

    More gold will be brought back to Poland if the “reserve situation is favorable,” with at least half of Poland’s gold reserves to be stored at home, Glapinski added


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