European Banks Flee US Gold Reserves Amid Geopolitical Uncertainty

Concerns about storing gold in the US have led European banks to relocate their reserves. The Dutch Central Bank transferred 86 tonnes of gold from New York to London, citing 'geopolitical turmoil' as a reason for the move.

The decision was seen as an attempt to improve crisis preparedness and ensure easy access to the assets in case of a global economic downturn.

France also withdrew its remaining gold from the Federal Reserve in New York between July 2025 and January 2026, with the French central bank governor attributing the move to concerns about asset availability rather than politics.