Central Banks Bring Gold Reserves Home Amid Rising Geopolitical Tensions

The Netherlands is moving nearly 86 tonnes of its gold reserves from storage facilities in North America to London's vaults. This move aims to make the country 'better prepared for severe crises', according to De Nederlandsche Bank, citing rising geopolitical tensions as the reason.

The gold, valued at over $2.5 billion at current prices, is being stored in the vaults of the Bank of England, one of the world's largest gold custodians with over 400,000 bars worth more than £200 billion.

This is not an isolated incident; several European central banks have been following a similar strategy. France withdrew its gold reserves from the US earlier this year, while Germany transferred more than 216 tonnes from overseas storage facilities in previous years.