The De Nederlandsche Bank transferred approximately 86 metric tons of gold worth billions of dollars from North America to London between March and August, according to the Dutch central bank. DNB Governor Olaf Sleijpen stated that the relocation aims to bolster crisis preparedness and improve the overall tradability of the nation’s precious metal reserves amid growing geopolitical unrest.
Shifting Gold Reserves Out of North America
Prior to the recent transfers, the Dutch central bank kept roughly 313 metric tons of its total gold holdings split between New York and Ottawa. According to De Nederlandsche Bank, New York housed 31.3 percent of the Dutch gold reserve, while Ottawa held 19.7 percent. Following the logistics operation completed between March and August, both North American cities now hold 18.5 percent each.
To execute the shift, the central bank physically moved more than 27 metric tons of gold from the United States and Canada to its heavily guarded cash center located on a military base near the Dutch town of Zeist, according to DNB’s public disclosures. A matching quantity traveled onward from Zeist to London. The remainder of the adjustment involved selling about 59 metric tons of gold in New York and using the proceeds to purchase equivalent gold assets stationed in London.
Why the Bank of England Was Chosen for Storage
DNB explained that gold stored with the Bank of England adheres to modern international trade standards. The central bank classifies this London-stored bullion as the world’s most easily tradable gold, making it readily accessible during an emergency.
By contrast, DNB stated that reserves kept in New York and Ottawa cannot be utilized as quickly or directly during an urgent crisis scenario. Following these adjustments, the geographical distribution of the Dutch gold reserves stands at 32.1 percent in London, 30.8 percent at the Zeist cash center in the Netherlands, and 18.5 percent in each of New York and Ottawa, according to CNBC reporting.
Broader Central Bank Movements and Market Context
The Dutch maneuver follows a similar action by the Bank of France, which replaced 129 metric tons of gold held at the New York Federal Reserve between July 2025 and January 2026. At the time of that transfer, Bank of France Governor Francois Villeroy de Galhau maintained that the relocation lacked political motivation.
The asset adjustments coincide with a significant rally in global gold prices. Driven by safe-haven demand amid financial uncertainty and ongoing geopolitical tensions involving the United States and Iran around the Strait of Hormuz, spot gold prices have climbed nearly 25 percent over a 12-month period, trading near $4,429.61 per ounce, according to market data reported by CNBC.
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