Dutch Central Bank Withdraws Gold from US Amid Geopolitical Tensions

The Dutch central bank has withdrawn over 78 metric tons of gold from New York's Federal Reserve Bank, citing 'geopolitical unrest' as the reason. This move follows France's decision to eliminate its remaining gold holdings in New York earlier this year. The Netherlands' latest reshuffling reduced its New York stockpile by just over 78 metric tons and its Ottawa holdings by roughly 7 metric tons.

DNB governor Olaf Sleijpen said the relocation was designed to strengthen the bank's readiness for a crisis amid increasing geopolitical tensions. He added that spreading gold more evenly across jurisdictions would reduce risk while making more of the precious metal readily available during a crisis. The bank holds about 612 metric tons of gold, with most of its remaining North American holdings being sold and replaced in London.

The move comes as several German lawmakers have questioned whether keeping their country's massive gold hoard in New York remains prudent under President Trump. Markus Ferber, a German member of the European Parliament, warned last year that Trump's unpredictability created risk around holding foreign reserves in the US. He noted that Trump is 'erratic' and it cannot be ruled out that he will come up with 'creative ideas' how to treat foreign gold reserves.