Key facts
- The Dutch central bank (DNB) moved 86 tonnes of gold from the US and Canada to London.
- The DNB cited 'increasing geopolitical unrest' as the reason for the relocation.
- Gold reserves in London are considered more easily deployable in a crisis situation.
- The total Dutch gold stock was 612.4 tonnes, valued at €72.2 billion at the end of 2025.
- The share of gold held in London increased to 32.1% following the transfer.
The Dutch central bank (DNB) has relocated 86 tonnes of its gold reserves from the United States and Canada to London, citing concerns over 'increasing geopolitical unrest.' The move aims to enhance the deployability of the gold reserves, making them more accessible in a crisis situation.
According to the DNB, gold held in London can be traded more easily than that stored in New York and Ottawa. DNB President Olaf Sleijpen stated that while the bank hopes never to need to deploy the gold, strengthening resilience and preparedness is necessary.
At the end of 2025, the total Dutch gold stock stood at 612.4 tonnes, valued at €72.2 billion. Prior to this relocation, 31.3% of the gold was held in New York and 19.7% in Ottawa. Following the transfer, these locations account for 18.5% of the Dutch gold reserve. The proportion of gold held in London has now increased from 18.1% to 32.1%, with 30.8% remaining in the Netherlands.
The transfer was executed through a combination of buying and selling operations, alongside the physical transportation of gold. More than 27 tonnes of physical gold were moved from the US and Canada to Zeist, with an equal amount transferred from Zeist to London, a method designed to spread the risks associated with moving large quantities of gold.