Dutch Central Bank Moves Gold to London Amid Rising Geopolitical Tensions

The Dutch central bank (DNB) has taken steps to strengthen its crisis preparedness by moving 86 metric tons of gold from North America to London. This transfer, which was completed over the past six months, represents 27.5% of the gold previously held in New York and Ottawa.

According to the DNB, this move is a response to increasing geopolitical unrest, with the bank stating that gold stored with the Bank of England (BoE) is considered the world's most easily tradable gold. In a crisis situation, this gold would be readily available for use.

Dutch central bank President Olaf Sleijpen emphasized the need to strengthen resilience and preparedness, although he noted that the DNB does not expect to use its reserves.

The transfer involved selling 59 tons of gold in New York and buying equivalent amounts in London that meet the BoE's market standards. Additionally, 27 tons of gold were physically moved from North America to the Netherlands, while an equivalent amount meeting BoE standards was transferred from the Dutch vault in Zeist to London.