Dutch Central Bank Shifts 86 Tonnes of Gold from New York, Ottawa to London
The Dutch central bank has transferred 86 tonnes of gold from New York and Ottawa to London in the past six months. This move aims to improve tradability and prepare for any possible crisis.
The gold transfer is a significant one, representing 27.5% of the country's total gold reserves held in North America.
According to Central Bank president Olaf Sleijpen, 'We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness.'
The bank sold about 59 tonnes of gold in New York and bought gold in London that meets the Bank of England's international market standards.
In addition, 27 tonnes of gold were physically moved from North America to the Netherlands, while the same amount with proper standards was transferred from the Dutch vault in Zeist to London.