Dutch Central Bank Repatriates Gold from Abroad Amid Geopolitical Tensions
The Dutch central bank, De Nederlandsche Bank, has been quietly emptying its American and Canadian vaults, shifting approximately 86 to 90 tonnes of gold to London and its domestic facility in Zeist. This move represents a geopolitical insurance policy for the nation's reserves, reducing reliance on foreign storage facilities.
The repatriation of gold from abroad marks a pattern among central banks, with France pulling 129 tonnes out of New York in 2025 and the Swiss National Bank keeping its entire hoard free of US storage. This trend suggests that central banks are hedging against potential disruptions to foreign-held reserves.
The price of spot gold has rebounded, closing Thursday up 2.0 percent at $4,473.07 per ounce, following Federal Reserve Governor Christopher Waller's suggestion that the central bank could hold rates steady at its September 16 meeting. However, analysts caution that Friday's US jobs report will likely determine whether the current recovery has legs.