European Central Banks Flee US Gold Reserves Amid Geopolitical Unrest

Central banks across Europe are moving large amounts of gold reserves out of the US and Canada and into London, citing increasing geopolitical unrest as a reason for their actions.

The Netherlands is one of several countries to have made significant transfers in recent months. According to official data, the Dutch central bank shifted around 86 metric tons of gold from the US and Canada to London between March and August this year.

This move is part of a larger trend, with other European countries following suit. France, for example, sold 129 metric tons of gold stored in New York in 2025 and replaced it with equivalent amounts of higher-standard gold held in Europe.

The Bank of England is one of the world's largest gold custodians, holding hundreds of thousands of gold bars worth over £200 billion on behalf of central banks and governments worldwide. London remains a major destination for national gold reserves due to its secure vaults and established infrastructure.

Nader Antar, executive vice president at Brink's Global Services, noted that heightened geopolitical uncertainty and the growing role of gold as a strategic reserve asset are contributing factors to this trend.