Dutch Central Bank Relocates 86 Tonnes of Gold from North America to London

De Nederlandsche Bank (DNB) has moved approximately 86 tonnes of gold, valued at roughly 10 billion euros, from the United States and Canada to London. The operation took place between March and August of this year. According to DNB President Olaf Sleijpen, the relocation was driven by increasing geopolitical unrest and a desire to strengthen the bank's resilience and preparedness for severe crises. The gold is now held in the vaults of the Bank of England, which is considered a major global trading center that allows for the rapid buying and selling of gold during a crisis.

The relocation was achieved through a combination of physical transport and financial transactions. Approximately 27 tonnes were physically shipped from North America to Zeist, while an equal amount was sent from Zeist to London to ensure the gold met the London Good Delivery standard for purity and quality. The remaining 59 tonnes were moved via a process of selling gold in New York and purchasing equivalent stocks in London. Following this operation, the Dutch gold reserves are distributed with 31.3 percent in London, 30.8 percent in Zeist, 18.5 percent in the US, and 18.5 percent in Canada.

This move follows a broader trend among European nations. France previously announced the removal of its gold reserves from the US, and Germany's Bundesbank transferred over 216 tonnes from abroad by 2016. While DNB emphasizes geopolitical instability, analysts from the World Gold Council suggest that inflation, interest rates, and the need for liquidity also play significant roles in how central banks manage reserve assets. Both sources agree that London remains a preferred storage location due to its status as a primary trading hub.