Netherlands Shifts Gold Reserves from US and Canada to London
The Bank of the Netherlands, De Nederlandsche Bank (DNB), has transferred 86 tons of gold from its reserves in the US and Canada to London. This move aims to increase access and liquidity to this reserve asset in times of economic and geopolitical instability.
According to DNB, the adjustment is intended to strengthen the ability to respond in crisis situations while improving the trading capacity of gold reserves.
The bank believes that storing a larger proportion of its gold reserves in London will enhance the role of this precious metal as a 'belief anchor' and a hedge against extreme systemic risks.
DNB Governor Olaf Sleijpen stated that the rearrangement has improved the trading capacity of gold reserves, but emphasized that they do not expect to use this amount of gold in an emergency situation.