Dutch Central Bank Relocates 86 Tons of Gold Amid Geopolitical Uncertainty

The Dutch central bank has transferred 86 metric tons of gold from New York and Ottawa to London, citing improved tradability and resilience amid geopolitical uncertainty.

The relocation is part of a broader trend, with other European countries also moving their gold reserves out of the US in recent years.

Rising US Treasury yields are also affecting the precious metals market, with some analysts predicting that higher interest rates could lead to increased competition for non-yielding assets like gold and silver.

Despite this, UBS strategist Joni Teves remains bullish on gold, expecting it to reach $5,000 by year-end and maintain a roughly $4,000-to-$5,000 range through 2027.