Dutch Central Bank Moves Gold Reserves from North America to London

The Dutch central bank has moved around 86 metric tons of gold from North America to London as part of a plan to strengthen its crisis readiness. The transfer represents about one-quarter of the country's total gold reserves, which are valued at approximately $83.6 billion.

According to Olaf Sleijpen, head of the Dutch central bank, the operation was intended to increase the ability to trade gold quickly in times of crisis. He emphasized that the bank expects never to have to use its reserves but must strengthen its resilience and preparedness for crises.

The transfer involved physical shipments of more than 27 metric tons from the United States and Canada to a secure vault at a military base near Zeist, as well as approximately the same amount transported from Zeist to London. The remaining 59 metric tons were sold in New York and purchased in London without physically transporting the metal.

The Dutch central bank chose to store its gold at the Bank of England due to its modern international trading standards and the liquidity of the London market, which would allow for faster and more direct access to the reserves in the event of a major crisis.