Netherlands Relocates Gold Reserves from North America to United Kingdom
3 sources across 3 countries · Chile · Qatar · Spain · 1 of them is linked to a state
Who reported this
- La Tercera
- Al Jazeera
- El Pais
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
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The Dutch Central Bank (DNB) has moved approximately 86 tonnes of gold reserves from the United States and Canada to the United Kingdom. According to the DNB, the redistribution took place between March and August 2026 to ensure the country is better prepared for severe crises and to improve the tradability of its reserves. The Netherlands holds a total of 612.4 tonnes of gold, valued at approximately 72.2 billion euros as of the end of 2025.
Following the relocation, the geographical distribution of the reserves has changed. The United Kingdom now holds 32.1 percent of the gold, while the DNB Cash Centre in Zeist remains at 30.8 percent. Both the United States and Canada now hold 18.5 percent each. Previously, the United States held 31.3 percent and Canada held 19.7 percent. DNB President Olaf Sleijpen stated that while the bank expects it will never need to use the reserves, the move strengthens resilience and preparedness.
The transfer was executed through two methods: the financial sale of about 59 tonnes of gold in New York followed by purchases in London, and the physical transport of over 27 tonnes from the United States and Canada to Zeist, with an equivalent amount moved from Zeist to London. The DNB noted that gold held in London is more easily tradable and available in emergency scenarios compared to holdings in New York and Ottawa.
Outlets with a center left lean frame the move as a response to geopolitical instability, specifically citing the US trade war with Canada, US military operations in Iran, Venezuela, and Cuba, and tensions between the US and European allies. In contrast, the center right outlet frames the decision primarily as a market based strategy to improve liquidity and leverage London's status as a global hub for physical gold trade.
How each side framed it
- Centre-left
- These outlets emphasize the move as a strategic reaction to US aggression and geopolitical instability under the Trump administration.
- Centre-right
- This outlet emphasizes the move as a pragmatic financial decision to improve liquidity and market accessibility.
Sources
- Centre-left Al Jazeera: Why has the Netherlands moved $10bn of its gold from the US?
- Centre-left El Pais: Netherlands moves part of its gold from the United States and Canada to the United Kingdom, due to global instability
- Centre-right La Tercera: Netherlands takes 86 tons of gold from USA and Canada and moves them to London to prepare for “crisis”
100% of the statements in this article were traced back to the source articles listed above.