Netherlands pulls gold out of the US for fears of 'geopolitical unrest'

The central bank of the Netherlands has moved 86 tonnes of its gold reserves out of the United States and Canada, citing increasing geopolitical unrest as the primary concern. De Nederlandsche Bank (DNB) explained that this action aims to enhance the country's crisis preparedness by ensuring its gold reserves are more readily available for use in a crisis.

The gold, totaling 313 tonnes, was moved to the Bank of England in London, as the reserves held in New York and Ottawa cannot be utilized as quickly and directly in a crisis situation. DNB governor Olaf Sleijpen stated that this decision increases the reserves' economic usability, although he did not provide specific reasons for the Netherlands' need to bolster its crisis preparedness.

The total value of the Dutch gold reserves is 72.2 billion euros ($116.7 billion). During the transfer, 59 tonnes of gold from New York were sold by the DNB and subsequently purchased in London, while another 27 tonnes from the US and Canada were physically moved to Zeist for storage at the Bank of England. This strategic move is seen as a response to Trump administration rhetoric towards traditional allies, reflecting growing European concerns about the independence of the US Federal Reserve under the Trump administration.