European Banks Flee US Gold Reserves Amid Geopolitical Uncertainty

European banks are moving gold out of the United States due to growing concerns over storing strategic assets in the country. The decision by the Dutch central bank to move about 86 tonnes of gold from New York to London highlights these concerns.

The De Nederlandsche Bank (DNB) cited 'geopolitical unrest' and said moving its gold across different jurisdictions would improve its 'crisis preparedness.'

France also removed its remaining gold exposure from the New York Federal Reserve between July 2025 and January 2026, although Bank of France Governor François Villeroy de Galhau said at the time that it was not politically motivated.

Several politicians in Germany and Italy have called for their countries' gold to be also taken out of the US amid concerns about the Trump administration's unpredictable policymaking and its growing antipathy toward the European Union, including threats to annex part of Greenland.