Gold reserves: Dutch central bank shifts gold from North America to London
Part of the Dutch gold reserves will in future be held in London. 86 tonnes are being transferred from their North American location. The central bank says it expects more flexibility in times of crisis from this move.
The Dutch central bank has transferred 86 tonnes of its gold reserves from vaults in the US and Canada to London over the past six months. The move aims to improve the liquidity of the gold and prepare for potential crises. A total of 27.5 percent of gold reserves stored in North America were transferred. The gold stored at the Bank of England is considered the most easily tradable in the world and is therefore the most readily available in times of crisis, according to the central bank.
The transfer involved selling around 59 tonnes of gold in New York and buying an equivalent amount in London, as well as physically transporting 27 tonnes of gold from North America to the Netherlands and then to London.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
