Netherlands moves billions in gold to London
The Dutch central bank has relocated 86 tonnes of gold from North America to London to strengthen crisis preparedness amid geopolitical unrest.
Stock photo for illustration only, not from the actual event
- Dutch central bank moves 86 tonnes of gold to London
- The relocation occurs amid ongoing trade tensions between the US and Canada
- The share of Dutch gold reserves held in London rises from 18.1% to 32.1%
The Dutch central bank (DNB) has confirmed that billions of dollars worth of gold reserves have been removed from North America and relocated to London, citing growing concerns over increasing geopolitical unrest around the world.
DNB announced on Wednesday that a total of 86 tonnes of gold had been taken out of the United States and Canada through a complex operation that spanned several months. The precious metal is now being held at the Bank of England, where it can be traded with greater ease in the event of a crisis situation.
Bank president Olaf Sleijpen stated that shifting the gold reserves was necessary to enhance the country's resilience and overall preparedness against external shocks.
"Necessary to strengthen our resilience and preparedness"
Olaf Sleijpen, DNB President
This decision comes against the backdrop of an ongoing trade dispute between the United States and Canada, which saw both nations impose fresh tariffs on each other following the breakdown of trade negotiations.
Central banks frequently adjust the geographical distribution of their gold reserves as part of macroeconomic risk management strategies. Storing bullion in London, a primary global hub for precious metals trading, ensures high liquidity, allowing institutions to convert assets swiftly during emergency scenarios.
According to DNB, the transfer took place between March and August. It began with 27 tonnes of gold bars moved from New York and Ottawa to Zeist in the Netherlands, followed by a transfer of a similar quantity and quality to London without needing to melt down the bars. The exact transportation methods across the Atlantic Ocean have not been disclosed.
The remainder of the transfer was executed by selling gold holdings in New York and repurchasing them in London. The central bank noted that combining physical transport with buying and selling operations helped spread the risks of such a complicated relocation process.
Prior to Wednesday's announcement, DNB held 31.3% of its gold in New York and 19.7% in Ottawa. Those figures have now dropped to 18.5% in both locations. The total Dutch gold stock stood at 612.4 tonnes at the end of 2025, valued at €72.2 billion.
Source: BBC Business
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