The Dutch Central Bank (DNB) has moved 86 tons of gold, worth about 10 billion euros, from reserves held mainly in New York and partly in Ottawa to London.
DNB justified the decision with increasing political instability and the need to be prepared for possible geopolitical crises.
About 59 tons of gold were transferred through the sale of bullion on the North American market and the purchase of an equal amount on the London market, while another 27 tons were physically transported to the Netherlands and then to London. According to the Central Bank, gold in London is easier to liquidate in case of an urgent need for funds.
At the end of 2025, the Netherlands had around 614 tonnes of gold in reserve, worth around €72 billion. After the transfer, around a third of the reserves are located in the Netherlands, a third in London, while the share held in New York has fallen from 31.3% to 18.5%.
DNB emphasizes that the more balanced distribution of reserves between the Netherlands, London and North America aims to diversify risks and ensure faster access to gold in the event of a crisis.