Dutch Central Bank Shifts $12 Billion in Gold from US to London
The Dutch central bank has transferred around $12 billion worth of its gold holdings from New York and Ottawa to London. The move is part of a broader strategy to diversify storage locations amid rising geopolitical tensions worldwide.
London is home to the world's most active and liquid gold market, with precious metal traded there each week. The Bank of England serves as a long-standing storage partner for central banks, allowing them to quickly buy, sell, or lend large amounts of gold when needed.
Gold stored at the Bank of England complies with global standards for bar weight and purity, making it readily exchangeable across international markets.
The Dutch central bank carried out the transfer by selling around 59 tonnes of gold in New York and purchasing an equivalent amount in London. It also physically transported over 27 tonnes of bullion from the US and Canada to Zeist, with a similar volume subsequently moved from Zeist to London.