02-09-2026
The Dutch central bank (DNB) has relocated 86 tonnes of gold previously held in the United States and Canada, moving it to London as part of what it describes as a broader effort to improve crisis preparedness amid increasing geopolitical unrest. The operation took place between March and August and involved both physical transportation and financial transactions.
Approximately 27 tonnes of gold bars were physically moved from New York and Ottawa to Zeist in the Netherlands. A similar quantity and quality of gold was then transferred from Zeist to London without melting down the bars. The remaining gold was sold in New York and repurchased in London. DNB has not disclosed how the gold was transported across the Atlantic, but said that combining physical transfers with buying and selling helped spread the risks of the complex operation.
The gold is now held by the Bank of England, which DNB considers the location where gold can be traded most easily during a crisis. Bank president Olaf Sleijpen said the move was necessary to strengthen the Netherlands’ resilience and preparedness. The transfer comes against a backdrop of tensions involving the United States and Canada, including new tariffs after unsuccessful trade negotiations. The article also links the broader uncertainty to the US economy and its war with Iran.
The relocation significantly changed the geographic distribution of Dutch gold reserves. Holdings in New York fell from 31.3% to 18.5%, while holdings in Ottawa declined from 19.7% to 18.5%. London’s share rose from 18.1% to 32.1%, while 30.8% remains in the Netherlands. DNB reported that the Netherlands held 612.4 tonnes of gold at the end of 2025, valued at €72.2bn.
Entities: Dutch central bank (DNB), Olaf Sleijpen, Bank of England, Netherlands, London • Tone: analytical • Sentiment: neutral • Intent: inform
02-09-2026
De Nederlandsche Bank (DNB), the Dutch central bank, has moved 86 tonnes of the Netherlands’ gold reserves from storage in the United States and Canada to London. The bank said the decision was prompted by increasing geopolitical unrest and the need to make its reserves more quickly deployable in a potential crisis. Gold stored in London can be traded more easily than gold held in New York or Ottawa, according to the DNB.
DNB President Olaf Sleijpen said the transfer was intended to strengthen the Netherlands’ resilience and preparedness, even though the bank does not expect that it will need to use the gold. The transfer involved a combination of buying and selling gold and physically transporting it. More than 27 tonnes were physically moved from the United States and Canada to Zeist in the Netherlands, while an equivalent quantity was transported from Zeist to London. This approach avoided melting down gold bars and spread the risks associated with moving a large quantity of gold.
At the end of 2025, the Netherlands held 612.4 tonnes of gold valued at €72.2 billion. Before the transfer, 31.3% of the country’s gold was held in New York and 19.7% in Ottawa. Afterward, the proportion stored in London rose from 18.1% to 32.1%, while the shares held in the United States and Canada each fell to 18.5%. The Netherlands continues to hold 30.8% of its gold reserves domestically. The move reflects a broader effort to improve the accessibility and operational flexibility of national reserves amid heightened geopolitical uncertainty.
Entities: De Nederlandsche Bank (DNB), Olaf Sleijpen, Netherlands, United States, Canada • Tone: analytical • Sentiment: neutral • Intent: inform
02-09-2026
The Dutch central bank, De Nederlandsche Bank (DNB), has transferred 86 tonnes of gold reserves from storage in the United States and Canada to London, citing increasing geopolitical unrest. The move is intended to make the reserves easier and faster to trade or deploy if a crisis occurs, rather than to reduce the Netherlands’ overall gold holdings.
DNB said gold held in London is more readily tradable than gold stored in New York or Ottawa. President Olaf Sleijpen said the transfer improved the “deployability” of the reserves and strengthened the country’s resilience and preparedness, even though the bank does not expect that it will need to use the gold in an emergency.
The Netherlands held 612.4 tonnes of gold worth €72.2 billion (US$83.7 billion) at the end of 2025. Before the transfer, 31.3 per cent of the country’s gold was held in New York and 19.7 per cent in Ottawa. Following the move, each location accounted for 18.5 per cent of Dutch gold reserves, implying that a substantial portion was shifted to London.
The article characterizes the transfer as a fairly exceptional, one-off decision. However, an expert warned that if other central banks adopted similar strategies and moved gold away from the United States, the trend could undermine confidence in the US. The report therefore presents the Dutch action both as a practical effort to improve emergency access to national reserves and as a possible indicator of how geopolitical uncertainty is influencing central-bank reserve management.
Entities: De Nederlandsche Bank (DNB), The Netherlands, Olaf Sleijpen, United States, Canada • Tone: analytical • Sentiment: neutral • Intent: inform
