Dutch Central Bank Shifts Gold Reserves from US and Canada to London

The Dutch central bank has shifted around 86 tonnes of gold from New York and Ottawa to London, citing improved crisis preparedness. This move increases London's share of Dutch gold reserves to 32.1%, up from 18.1%. The bank's total gold reserves remain unchanged at 612.4 tonnes.

Central banks have been steadily increasing their gold holdings in recent years, with over 1,000 tonnes added annually between 2022 and 2024. According to the World Gold Council, 89% of reserve managers expect global central bank gold holdings to increase over the next 12 months, with 45% planning to buy more themselves.

London's position as a major hub for physical gold trading makes it an attractive location for central banks seeking quick access to their reserves. The Bank of England holds around 400,000 bars of gold, roughly 5,000 tonnes, on behalf of foreign central banks and international organizations.