European Countries Fleeing US Gold Reserves Amid 'Geopolitical Unrest'

The Netherlands and France have made significant moves to shift their gold reserves out of the United States. The Netherlands announced it had transferred 86 tonnes of gold, equivalent to almost 7,000 bars, from vaults in the US and Canada to the Bank of England in London.

This transfer included around 59 tonnes achieved by trading gold in New York for gold in London, with over 27 tonnes physically moved. The De Nederlandsche Bank cited 'increasing geopolitical unrest' as motivation for the move.

France had previously announced it shifted 129 tonnes of its gold from New York to Europe earlier this year. The country bought back the same amount of gold stored in Europe and now has direct control over 2,437 tonnes of gold, the fourth-largest gold reserve in the world.