Dutch Central Bank Transfers 86 Tonnes of Gold to London Amid Rising Tensions

The Central Bank of the Netherlands has transferred 86 tonnes of gold from the United States and Canada to the Bank of England's vaults in London. This move is a response to rising geopolitical tensions, allowing for rapid access to reserves in case of a crisis.

The transfer includes part of approximately 313 tonnes of Dutch gold stored in North America. The operation took place between March and August this year.

Olaf Sleijpen, head of De Nederlandsche Bank, explained that the bank doesn't expect to use these reserves but wants to strengthen resilience and crisis preparedness.

The choice of London as the new storage location is due to its role as a main gold trading center. This enables quick buying or selling of metal in a crisis situation.