Dutch Central Bank Shifts Gold Reserves to London Amid Global Unrest

The Dutch central bank has relocated billions of dollars worth of its gold reserves out of North America in a move described as 'crisis preparedness'.

The bank, known by its acronym DNB, said it transferred around 86 metric tons (94.8 tons) of gold from New York and Ottawa to London between March and August.

This move has reduced the share of gold held in North America to 18.5%, with London now holding a larger portion of the bank's total gold reserves, which amount to 612.4 metric tons (675 tons), worth approximately $83.6 billion at the end of 2022.

The Dutch bank's governor, Olaf Sleijpen, stated that this relocation has improved the tradability of their gold reserves and strengthened resilience in times of global political unrest.