Netherlands Shifts 86 Tonnes of Gold to London Amid Geopolitical Risk
The Dutch central bank (DNB) moved about 86 tonnes of its gold from the United States and Canada to London between March and August 2025, citing rising geopolitical unrest and a desire for quicker crisis deployability. London now holds 32.1% of Dutch gold (up from 18.1%), while New York and Ottawa each account for 18.5% and the Netherlands retains 30.8% at home. The operation mixed buying/selling with physical transfers, including roughly 27 tonnes moved physically to Zeist and then to London, to spread risk and avoid melting bars. DNB says it does not expect to deploy the reserves but wants greater resilience; Bundesbank continues to store its reserves in New York for now.