European Banks Shift Gold Reserves Away from US Amid Geopolitical Uncertainty

European banks are moving gold reserves out of the United States due to concerns over its reliability and accessibility in times of crisis. The decision by the Dutch central bank to move about 86 tonnes of gold from New York to London highlights growing unease among European governments.

The De Nederlandsche Bank cited 'geopolitical unrest' as a reason for moving its gold, saying it would improve their 'crisis preparedness'. The Bank of France also removed its remaining gold exposure from the New York Federal Reserve between July 2025 and January 2026.

Some politicians in Germany and Italy have called for their countries' gold to be taken out of the US amid concerns about the Trump administration's unpredictable policymaking and growing antipathy toward the European Union. However, analysts say the risk of outright seizure is 'extremely remote', but rather concern over ease of access during geopolitical uncertainty.