Dutch central bank moves 86 tonnes of gold to UK from US and Canada, citing ‘geopolitical unrest’
Bank says gold reserves held in London could be traded more easily and the move will allow it to respond more rapidly in a ‘crisis situation’
TL;DR
- De Nederlandsche Bank (DNB) moved 86 tonnes of gold reserves from the US and Canada to London.
- The move was motivated by increasing geopolitical unrest and the need for easier trading and deployment in crisis situations.
- The Dutch gold stock amounts to 612.4 tonnes, valued at €72.2bn ($83.7bn) at the end of 2025.
- After the transfer, London holds 32.1% of the Dutch gold reserve, down from 18.1%, while New York and Ottawa each hold 18.5%, down from 31.3% and 19.7% respectively.
- The operation involved both buying/selling and physical transport of gold, with 27 tonnes physically moved from the US and Canada to Zeist, and the same quantity moved from Zeist to London.
- Central banks have been shifting reserves for about a decade, with the London market noted for its liquidity.
- Germany's Bundesbank, however, has decided not to shift its reserves from New York at this time.