Dutch central bank moves 86 tonnes of gold to UK from US and Canada, citing ‘geopolitical unrest’
The Guardian • • general
Key Points:
- The Dutch central bank (DNB) has relocated 86 tonnes of its gold reserves from the US and Canada to London, citing increasing geopolitical unrest and the greater ease of trading gold in London.
- This move increases the share of gold held in London from 18.1% to 32.1%, while holdings in New York and Ottawa each decreased to 18.5%, with 30.8% still held in the Netherlands.
- The transfer involved a combination of buying, selling, and physical transport of gold between the US, Canada, the Netherlands, and London, conducted between March and August 2025 to minimize risks.
- Experts note that central banks have been adjusting gold storage locations for about a decade, with London favored for its deep, liquid market that facilitates quick deployment and lending during crises.
- While the Dutch move aims to improve gold deployability in emergencies, analysts warn that if other central banks follow, it could undermine confidence in the US as a secure gold storage location, though Germany's Bundesbank currently maintains its reserves in New York.
