Europe's Central Banks Flee Gold Reserves from US Amid Global Unrest

European central banks are relocating their gold reserves from North America to more secure locations closer to home.

The Dutch central bank, De Nederlandsche Bank, moved 86 tonnes of gold from the US and Canada to London between March and August this year, citing increased geopolitical unrest as a reason for the relocation.

This is not an isolated incident, with several other European countries also moving their gold reserves in recent years. France removed its gold reserves from the US earlier this year, while Germany transferred 216 tonnes of gold from storage locations abroad between 2013 and 2016.

Experts say that these moves are a response to growing concerns about global instability, including trade wars and military conflicts.

Lina Thomas and Daan Struyven of Goldman Sachs note that some European central banks moved part of their gold holdings to New York during the Cold War.