De Nederlandsche Bank moves 86 tons of gold to London

De Nederlandsche Bank (DNB) has moved approximately 86 tons of its gold reserves from New York and Ottawa to London. The operation, valued at over €10 billion, was conducted between March and August 2026 through a combination of physical transfers and accounting operations involving the sale and repurchase of bullion.

The Dutch central bank cited the need to enhance crisis preparedness and risk diversification due to increasing geopolitical unrest. By moving assets to London, which is a primary global hub for physical gold trading, the DNB aims to ensure its reserves are more liquid and readily available for use during a crisis. Following the move, London holds 32.1% of the Dutch gold reserves, while the shares held in New York and Ottawa each decreased to 18.5%.

This shift follows similar actions by other European nations. France previously moved 129 tons of gold from the Federal Reserve Bank of New York to Europe to improve compliance and accessibility. Germany also relocated over 216 tons of gold from the United States and Paris to its own vaults. These movements reflect a broader trend of European central banks seeking to reduce reliance on North American storage in favor of more liquid or domestic locations.