Netherlands Shifts 86 Tonnes of Gold to London Amid Growing Geopolitical Tensions

The Netherlands' central bank, DNB, has transferred 86 tonnes of gold from the US and Canada to London. The move was carried out between March and August, with 27 tonnes brought from New York and Ottawa to Zeist in the Netherlands before being moved on to London.

DNB President Olaf Sleijpen stated that the transfer was necessary to strengthen the country's preparedness and resilience in the event of a crisis. The gold stored at the Bank of England is considered among the easiest gold in the world to trade, allowing for quick buying or selling during a crisis.

The move comes as a response to 'growing geopolitical tensions', although the bank did not specify which events it was referring to. This decision coincides with an ongoing trade dispute between the US and Canada.