Netherlands Dumps $10 Billion in Gold From US Amid Geopolitical Risk

The Netherlands has moved approximately 86 tonnes of gold valued at over €10 billion from North America to London, citing 'increasing geopolitical unrest' and a desire to 'strengthen crisis preparedness'. The country joins a growing list of countries moving gold out of the U.S. to reduce counterparty risk.

The central bank, De Nederlandsche Bank (DNB), sold 59 tonnes of gold stored in New York and used the funds to purchase gold in London 'that meets the international market standards'. It also physically moved more than 27 tonnes of gold from the U.S. and Canada to Zeist, simultaneously transferring a similar amount of gold from Zeist to London to avoid remelting bars.

'Combining the processes of buying and selling and physical transport has allowed DNB to spread the risks associated with such a complex physical gold relocation operation, while also ensuring efficiency and cost-consciousness.'