European central banks relocate gold reserves from North America to London

Several European central banks are relocating their gold reserves from North America to Europe, citing a need for better liquidity and increased geopolitical security.

De Nederlandsche Bank (DNB) recently moved approximately 86 tons of gold from New York and Ottawa to London. The Dutch central bank stated that London is a premier global hub for physical gold trading, making the assets more readily available for use during a crisis. This move shifts the distribution of Dutch reserves, with London now holding 32.1% of its gold.

This trend follows similar actions by other European nations. France previously moved approximately 129 tons of gold from the Federal Reserve Bank of New York to Paris. Germany has also moved over 216 tons of gold from the United States to its own vaults. Analysts suggest these shifts are driven by concerns regarding the political neutrality of U.S. institutions and the desire to mitigate risks associated with holding assets in third-party jurisdictions.