Dutch Central Bank Moves 86 Tonnes of Gold From US and Canada to London
The Dutch central bank has moved 86 tonnes of gold from the United States and Canada to London amid increasing geopolitical unrest. De Nederlandsche Bank (DNB) has said that London offers easier access to gold trading than New York and Ottawa. Therefore, the bank can access and deploy its reserves faster during a crisis. DNB President Olaf Sleijpen has said the move has strengthened the central bank’s resilience and preparedness. The decision comes as financial institutions face growing concerns over geopolitical and economic risks. It also highlights the importance of having gold reserves in locations where they can be accessed quickly.
The shift reflects a strategy focused on faster access, crisis preparedness and financial resilience, rather than a complete withdrawal from US and Canadian storage. In addition, keeping gold in several locations helps the bank maintain a diversified reserve structure.
How Russia-Europe Tensions and Middle East Conflicts Raise Risks for the Netherlands
Russia-Europe tensions have increased security risks for the Netherlands, which is a NATO member. The Russia-Ukraine war has raised concerns about military escalation, cyberattacks, sabotage and threats to critical infrastructure. These risks can also disrupt businesses, payments, public services and the wider Dutch financial system. Therefore, the Netherlands has had to prepare for threats beyond a traditional military conflict. DNB has also examined scenarios involving cyberattacks, logistics disruptions, economic warfare and physical warfare to strengthen financial resilience.
Middle East conflicts can affect the Netherlands through energy, trade and supply chains. The region remains important for global oil and gas supplies, while the Strait of Hormuz connects major energy routes with international markets. If conflict disrupts supplies or shipping, energy prices can rise across Europe. Higher costs can then affect factories, transport and consumers, while shipping disruptions can create further delays for Dutch trade. In contrast, Russia-Europe tensions mainly create security risks, while Middle East conflicts can bring stronger energy and economic pressures. Together, these risks have increased geopolitical uncertainty and highlighted why DNB wants its gold reserves to remain easily accessible during a crisis.
How DNB Moved 86 Tonnes of Gold to London
DNB used physical transport and gold-market transactions to move 86 tonnes of gold to London. More than 27 tonnes travelled from the US and Canada to Zeist in the Netherlands, then moved onward to London. DNB also sold about 59 tonnes in New York and bought an equivalent amount in London. This approach avoided melting and recasting existing gold bars. It also helped spread the transport and security risks linked to moving a large quantity of gold. The operation ran from March to August 2026, while New York and Ottawa continued to hold part of the Dutch gold reserves.
The transfer changed the geographical balance of DNB’s gold without ending its North American storage. New York and Ottawa now each hold 18.5% of the reserves, while the Netherlands retains 30.8%. London’s share has risen from 18.1% to 32.1%, making it the largest foreign storage location for Dutch gold. DNB had 612.4 tonnes of gold, worth €72.2 billion, at the end of 2025.For DNB, the shift is ultimately about keeping its gold reserves accessible, liquid and ready to deploy when a crisis demands immediate action.
Web Resources On Dutch Central Bank Moves 86 Tonnes of Gold From US
1. Guardian : Dutch central bank moves 86 tonnes of gold to UK from US and Canada, citing ‘geopolitical unrest’.
2. BBC : Netherlands moves billions in gold to London in ‘crisis preparedness’ move.
3. South China Morning Post : Dutch shift 86 tonnes of gold from US and Canada to London, citing ‘geopolitical unrest’.
4. Euro News : Netherlands moves 86 tonnes of gold from US and Canada to UK, citing ‘geopolitical unrest’