Dutch central bank moves 86 tons of gold from US, Canada to London

The Dutch central bank has moved about 86 metric tons of gold from vaults in New York and Ottawa to London, citing rising geopolitical tensions and a need to strengthen its preparedness for a potential crisis.

The relocation, carried out between March and August, involved just over a quarter of the roughly 313 metric tons of gold previously held in New York and Ottawa, according to the Dutch central bank, or DNB. DNB said gold held at the Bank of England in London is more easily traded internationally and can therefore be deployed more quickly during a crisis.

"With this relocation, we have improved the tradability of our gold reserves," DNB Governor Olaf Sleijpen said in a written statement. "We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness."

The move comes as gold prices have surged and follows similar efforts by other European central banks to reduce their exposure to gold stored in the United States, according to AP and CNBC.

Before the relocation, New York held 31.3% of DNB's gold reserves and Ottawa held 19.7%. Their shares have now fallen to 18.5% each, DNB said. The bank owns 612.4 metric tons of gold, valued at about 72.2 billion euros ($83.6 billion), at the end of 2025.

More than 27 metric tons of gold were physically transferred from the United States and Canada to DNB's heavily guarded vault at a military base near Zeist in the Netherlands, with a similar amount subsequently moved from Zeist to London. The remainder of the relocation was carried out through financial transactions, with DNB selling about 59 metric tons of gold in New York and using the proceeds to purchase gold in London.

DNB said bullion held at the Bank of England meets modern international trading standards and is considered among the world's most readily tradable gold, while gold held in New York and Ottawa cannot be utilized as quickly and directly in a crisis. The relocation underscores growing attention among central banks to the location and accessibility of their gold reserves amid heightened geopolitical uncertainty.