European Banks Flee US Gold Reserves Amid Geopolitical Uncertainty

The Dutch central bank has moved around 86 tonnes of gold from New York to London, citing 'geopolitical unrest' and a desire for crisis preparedness. The decision was made by De Nederlandsche Bank (DNB) in response to growing concerns among European governments over storing strategic assets in the US.

The move is part of a larger trend, with France removing all its remaining gold exposure from the New York Federal Reserve between July 2025 and January 2026. Several politicians in Germany and Italy have called for their countries' gold to be taken out of the US amid concerns over the Trump administration's unpredictable policymaking.

The World Gold Council says that central banks around the world have been buying more gold since the 2008 global financial crisis, and are increasingly focused on where and how they store it. According to a recent survey by the World Gold Council, central banks have accumulated an average of 1,000 tonnes of gold over the past four years.