The Netherlands moved its gold reserves from the US to Britain due to the 'geopolitical situation'

The Dutch central bank announced it had moved 86 tonnes of its gold reserves from the US and Canada to London. The decision was made in response to growing geopolitical instability, according to reports. The Guardian.

De Nederlandsche Bank (DNB) said gold stored in London was easier and faster to use in trading than reserves held in New York and Ottawa.

"This makes it the fastest available for DNB to use in a crisis situation," the bank said in a statement released on September 2.

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"With this step, we have increased the readiness and operational availability of our gold reserves. We assume we will never need to use them, but we still need to strengthen our resilience and preparedness for potential crises," said DNB President Olaf Slijpen.

The Netherlands' total gold reserves amount to 612,4 tonnes, and their value at the end of 2025 was estimated at €72,2 billion ($83,7 billion), the bank said.

Before the move, 31,3% of the country's gold was stored in New York, and another 19,7% in Ottawa.

After the operation, the share of reserves in each of these countries fell to 18,5%.

The share of gold stored in London increased from 18,1% to 32,1%. However, 30,8% of gold reserves remain in the Netherlands.

The transfer of reserves was accomplished partly through purchase and sale transactions and partly through the physical movement of gold.

More than 27 tons of precious metal were transported from the USA and Canada to Zeist.

A similar volume of gold was moved from Zeist to London, thus avoiding the need to melt down the ingots.

“By combining purchases and sales with physical transport, we have spread the risks associated with moving large volumes of gold,” DNB noted.

The operation took place from March to August of this year.

Laurent Schwartz, president of the Paris National Gold Council, an organization that promotes gold trading in France, noted that central banks have been redistributing their gold reserves for about a decade.

"The current political situation in the US may encourage some central banks to choose other storage locations," he said.

According to him, the London market remains the deepest and most liquid, which makes gold more convenient for use in crisis situations.

"Central banks can more easily lend gold there to other banking institutions."

CitE Gestion Private Bank analyst John Plassar said the Dutch decision was aimed at "ensuring faster availability in the event of a crisis."

For now, he believes, it looks like a one-off decision, but if other countries follow the Netherlands, it could undermine confidence in the US as a reserve storage location.

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At the beginning of the year, Germany also expressed concerns about the safety of its gold reserves in New York.

However, the Bundesbank has not yet moved its assets from New York.

"The Federal Reserve Bank of New York remains and will remain an important storage location for our gold," bank officials said in January.

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