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

The Dutch central bank has relocated a significant portion of its gold reserves to London as part of 'crisis preparedness' measures. Between March and August, approximately 86 metric tons (94.8 tons) of gold were transferred from New York and Ottawa, Canada to the Bank of England. The move aims to improve the tradability of the Dutch bank's gold reserves, with Governor Olaf Sleijpen stating that they expect to never need to use them but must strengthen their resilience and preparedness.

The relocation was achieved by physically transferring 27 metric tons (30 tons) from the US and Canada to Zeist, where it was then transferred to London. The remaining gold was sold in New York and used to buy gold in London, totaling around 59 metric tons (65 tons). The Dutch bank now holds 18.5% of its gold reserves in each of New York and Ottawa, down from 31.3% and 19.7%, respectively.