Dutch Central Bank Moves Gold from North America Amid Geopolitical Unrest

The Dutch central bank, De Nederlandsche Bank (DNB), has moved a quarter of its gold reserves from North America to London. The move is part of the bank's efforts to prepare for potential crises and reduce the risk of its assets being frozen or seized.

The DNB holds 612.4 tonnes of gold, valued at €72.2 billion, with 31.3% previously stored in New York and 19.7% in Ottawa. Between March and August, the bank shifted about 86 tonnes from these locations to London, increasing its London-held gold to roughly 32%.

The relocation is not a straightforward physical repatriation. Only 27 tonnes were physically brought from North America to DNB's vault near Zeist before a similar quantity was moved to London. The remaining roughly 59 tonnes were sold in New York and replaced with gold purchased in London.