Dutch central bank transfers 86 tonnes of gold closer to home
DNB decided to move some of their gold reserves from the US and Canada to London, in a move to decrease risk.
The Dutch central bank, De Nederlandsche Bank (DNB), has relocated approximately 86 tonnes of gold from North America to London between March and August 2026. This strategic move aims to bolster the bank's crisis preparedness and ensure the gold is stored in a more geographically secure and easily tradable location. As a result, London's share of the bank's gold reserves increased from 18.1% to 32.1%, while holdings in New York and Ottawa each dropped to 18.5%.
The Zeist, Netherlands, facility retained its 30.8% share. DNB Governor Olaf Sleijpen stated that the relocation enhances the bank's gold reserves' tradability and preparedness, though the bank does not anticipate using the gold. Before the move, about 313 tonnes of the bank's 612.4 tonnes of gold were stored in the US and Canada, following a strategy to distribute reserves across multiple locations.
The DNB explained that holding gold in the Bank of England, which meets modern international trade standards, makes it the most easily tradable gold globally. This move is expected to improve the bank's access to its gold reserves in times of crisis, benefiting the Netherlands and other European countries. The move also involved selling and physically transporting gold, with 59 tonnes sold in New York and 59 bought in London.
Another 27 tonnes were transported from Ottawa and New York to Zeist, all under stringent security measures. The total gold reserves remained unchanged following the relocation. This strategy of repositioning gold reserves is not unique to the DNB; other central banks, including the French central bank, are also diversifying their gold storage locations amid growing geopolitical and financial risks.
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