Dutch Central Bank Transfers 86 Tons of Gold from North America to London

The Dutch central bank (DNB) has moved approximately 86 metric tons of gold from North America to London over the past six months. This transfer accounts for 27.5 percent of the gold previously held in New York and Ottawa.

DNB President Olaf Sleijpen stated that this move is aimed at strengthening crisis preparedness amid rising geopolitical tensions. Gold stored with the Bank of England (BoE) is considered the world's most easily tradable, making it readily available in a crisis situation.

The transfer involved selling about 59 tons of gold in New York and buying gold in London that meets the BoE's market standards. In addition, 27 tons of gold were physically moved from North America to the Netherlands, while an equivalent amount meeting BoE standards was transferred from the Dutch vault in Zeist to London.

The final step avoided the need to remelt gold bars, according to DNB. The transfer did not change the size of the Dutch gold reserves, which remained at 612.4 tons. The Netherlands now holds 32 percent of its gold in London, almost 31 percent domestically and 37 percent split evenly between New York and Ottawa.