Dutch Central Bank Relocates Gold Reserves Amid Geopolitical Unrest
The Dutch central bank has relocated over 78t of gold from New York vaults to London, citing 'increasing geopolitical unrest'. This move is seen as a strategic decision to improve tradeability and value of their gold reserves. The total gold held by the bank is 612t.
According to the source, this relocation follows a similar move made by France in relocating its gold reserves from NY Fed between July 2025 and January 2026.
The weak US jobs data has cooled rate hike bets, causing gold prices to rebound. The ADP survey showed private hiring rose less than expected in August, while the Fed's Beige Book pointed to modest growth, slight hiring, and moderate price rises. As a result, traders now price a 62% chance of a rise this month, down from >70% on Wednesday.
Zambia is planning to formalize its small-scale gold mining sector, aiming to bring in over $1.8 billion by bringing the informal trade into the formal market. The state mining investor, ZCCM-IH, sees 'a few hundred thousand ounces a year' as achievable, compared to 127,000oz in 2025.