Central Banks Relocate Gold Reserves Amid Geopolitical Tensions

European central banks are reevaluating where they store their gold reserves due to rising geopolitical tensions. The Netherlands has led the way by moving 86 tonnes from North America to London, where it can be more easily traded in times of crisis.

The Dutch central bank, De Nederlandsche Bank (DNB), transferred the metal between March and August 2026, citing a desire to improve crisis preparedness. The relocation strengthens the Netherlands' gold holdings at the Bank of England, which now account for 32.1% of its total stock.

This shift is part of a broader trend as central banks reassess their storage options. France has also reduced its New York holdings by converting 129 tonnes into modern bars and storing them in Paris. Germany's often-cited transfer of 216 tonnes from North America to Frankfurt dates back to 2016.