Dutch Central Bank Shifts Billions in Gold Reserves to London Amid Global Unrest

The Dutch central bank has shifted billions of dollars in gold reserves out of North America as part of a 'crisis preparedness' move. Between March and August, some 86 metric tons (94.8 tons) of gold were transferred to London from the combined total of around 313 metric tons (345 tons) held in New York and Ottawa, Canada.

This relocation means that both cities now hold 18.5% of the Dutch gold reserves, down from 31.3% and 19.7% respectively. The bank's governor, Olaf Sleijpen, said that this move improves the tradability of their gold reserves, 'We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness.'

The Dutch bank holds a total of 612.4 metric tons (675 tons) of gold worth around $83.6 billion at the end of 2025. The relocation was achieved through a combination of physically transferring over 27 metric tons (30 tons) of gold from the US and Canada to the Netherlands, and selling 59 metric tons (65 tons) in New York to buy gold in London.

The bank chose to transfer its gold reserves to London because 'gold held at the Bank of England must meet modern international trade standards and is regarded as the world's most easily tradable gold'.