Dutch Central Bank Moves Gold from North America to London Amid Rising Tensions

The Dutch central bank (DNB) has transferred 86 metric tons of gold from North America to London, citing rising geopolitical tensions and a desire to strengthen crisis preparedness. This move accounts for 27.5% of the DNB's previously held gold in New York and Ottawa.

In a statement, the DNB emphasized that this transfer is not politically motivated, but rather a proactive measure to ensure the bank's resilience in times of uncertainty. The Bank of England (BoE) stores gold for central banks and serves as a major hub for over-the-counter gold trading.

DNB President Olaf Sleijpen noted that there was a need 'to strengthen our resilience and preparedness' although the central bank did not expect to use its reserves. This move comes months after the Bank of France upgraded 129 tons of bullion held in New York by selling older bars and buying ones meeting international standards.