03.09.2026 09:50
The Dutch Central Bank has moved more than 78 tons of its gold reserves held in New York to London in order to strengthen its preparedness for crises. With this notable move following increased geopolitical tensions, the aim is to gain faster access to the reserves in times of crisis and to make the gold more easily usable when needed.
Increasing geopolitical tensions around the world have begun to be reflected in central banks' reserve policies. The Dutch Central Bank (DNB) has moved a significant portion of its gold reserves held in the US and Canada to London to strengthen its preparedness against potential crises.
As part of the operation carried out between March and August 2026, over 78 tons of gold from New York and approximately 7 tons of gold from Canada's capital, Ottawa, were transferred to London. Thus, the total movement reached approximately 86 tons.
RATIONALE: GEOPOLITICAL TENSION AND CRISIS PREPAREDNESS
The Dutch Central Bank announced that the decision was driven by increasing geopolitical unrest and the need to be better prepared against potential crises.
The Bank stated that distributing reserves more evenly among North America, the UK, and the Netherlands would reduce risks and enable faster access to gold when needed.
WHY WAS IT MOVED TO LONDON?
London stands out as one of the world's most important centers for physical gold trading. Gold held at the Bank of England being compliant with international trading standards allows reserves to be transacted more quickly when necessary.
The Dutch Central Bank also noted that reserves in New York and Ottawa could not be used as quickly and directly as gold in London in the event of a crisis.
NOT ALL MOVED PHYSICALLY
The entire operation was not carried out as transporting bars from one country to another. The Bank sold approximately 59 tons of gold in New York and, in return, purchased gold compliant with international standards from London.
In addition, more than 27 tons of gold were physically transported from the US and Canada to the secure facility in Zeist, Netherlands. A similar amount of gold was also transferred from Zeist to London.
HUGE RESERVE OF 612 TONS
The Netherlands' total gold reserve stands at 612.4 tons. The value of the reserves at the end of 2025 was calculated at 72.2 billion euros.
Following the operation, the share of Dutch gold held in London increased from 18.1% to 32.1%. New York's share decreased from 31.3% to 18.5%, while Ottawa's share also became 18.5%.
"WE MUST STRENGTHEN OUR PREPAREDNESS FOR CRISES"
Olaf Sleijpen, President of the Dutch Central Bank, noted that reserves have been made more easily tradable, emphasizing that they hope never to have to use the gold, but the country needs to strengthen its resilience and preparedness for crises.