European Central Banks Flee North America's Gold Reserves Amid Global Unrest

European countries are moving their gold reserves from North America to London in response to growing geopolitical unrest. The Dutch central bank has confirmed that it moved 86 tons of gold from the US and Canada, citing a need to be 'better prepared for severe crises'. This move follows similar actions by France and Germany, which have removed their gold reserves from the US.

The Bank of England in London holds around 400,000 gold bars worth more than £200 billion, making it one of the world's largest gold custodians. The 300-year-old institution is seen as a safe haven for central banks to store their gold reserves, particularly during times of global instability.

Gold has had a significant rise in value recently, surpassing $5,000 an ounce in January. According to Goldman researchers, the price is projected to rise to $4,900 an ounce by the end of 2026.