It is no longer an Asian country that actively accumulates money in central banks and ends its dependence on the US dollar. A new European country has joined the league, diversifying central bank assets last month, making the US dollar the biggest buyer of gold, the least important. If European countries launch a trend towards diversifying central banks, it could cause major financial chaos in the US.
Polish central bank begins to accumulate gold and stands by the US dollar in the reserve
The new European countries accumulate a large amount of gold in their reserves, and the US dollar is Poland. Poland’s central bank brought in 16 tons of gold last month, becoming the largest buyer of precious metals in March. It even preceded China, India, Russia and Brazil, which had been actively accumulating sparkling metals since 2022.
Several countries have set aside the US dollar in 2025 and replenished their wealth with gold. The US dollar carries risks as it has a high debt cap and a recession can affect the native economy. JP Morgan increased the likelihood of a 2025 recession from 30% to 60% after tariffs were made public.
According to the latest data, 54% of Polish central bank purchases have been gold since 2024, a reduction in the US dollar. “This will increase the net purchases of YTD to 49 tons, equivalent to 54% (90 tons) of total purchases in 2024.” said David Miller, Chief Investment Officer of Catalyst Fund.
The total for Poland spent on accumulating 16 tons of gold was $894,181,760 in April 2025. Greenback could face a deficit if more countries rely on the US dollar and begin to rely on gold. Central banks have saved the most US dollars for decades, and diversification is a source of concern.
