Dutch shift 86 tonnes of gold from US, Canada to UK

The Dutch central bank announced on Wednesday that it had relocated 86 tonnes of its gold reserves from the United States and Canada to London. This decision was made due to growing geopolitical instability, as the bank sought to enhance the ease of trading its gold holdings in a crisis scenario. According to a statement from the bank, London is a more efficient location for deploying gold reserves compared to New York and Ottawa.

DNB president Olaf Sleijpen emphasized that while the gold is not anticipated to be used, the move strengthens the bank's resilience and preparedness. The Dutch gold stock was valued at €72.2 billion at the end of 2025, with a total of 612.4 tonnes. Prior to the transfer, the bank held 31.3% of its gold in New York and 19.7% in Ottawa.

Following the relocation, these percentages decreased to 18.5% each, while the share in London rose from 18.1% to 32.1%. The bank retained 30.8% of its gold domestically in the Netherlands. The transfer process involved a combination of purchasing and selling gold and physically moving bars, preventing the need to melt down the gold.

Over 27 tonnes of physical gold were transferred from the US and Canada to Zeist, and an equal amount was moved from Zeist to London. The bank explained that this approach minimizes risks associated with physically transporting a substantial quantity of gold.