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European central banks relocate gold reserves from North America
European central banks are increasingly relocating gold reserves from North America to Europe and more liquid hubs like London. The Dutch central bank, De Nederlandsche Bank (DNB), confirmed it transferred approximately 86 tonnes of gold from the United States and Canada to the Bank of England between March and August 2026. This move, valued at roughly 10 billion euros, aims to enhance national resilience and ensure gold is readily available for trade during geopolitical or economic crises.
The relocation was achieved through a combination of physical transport—moving over 27 tonnes from North America to Zeist, Netherlands—and financial transactions, such as selling gold in New York and repurchasing it in London to avoid the need for melting bars. Following this operation, the proportion of Dutch gold held in London rose from 18.1% to 32.1%, while holdings in New York and Ottawa both decreased to 18.5%.
This trend is not unique to the Netherlands. France recently announced the repatriation of 129 tonnes of gold from the US to French territory. Similarly, Germany's Bundesbank completed a multi-year process through 2016, moving over 216 tonnes of gold from overseas facilities in New York and Paris back to Frankfurt. Experts suggest these shifts are driven by a desire for greater asset sovereignty, liquidity, and protection against geopolitical instability and trade tensions.
Entities
Bank of England · Banque de France · Bundesbank · De Nederlandsche Bank · France · Friedrich Merz · Germany · Goldman Sachs · London · Netherlands · Olaf Sleijpen · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 12 SOURCES] The Netherlands used a combination of physical transfers and market trades to relocate the gold. www.chinesepress.com · www.kentgazetesi.com · nezavisen.mk · worldstockmarket.net · racin.mk · +7 more
- [● 5 SOURCES] London was selected as a storage location due to its high liquidity and ease of trading. www.chinesepress.com · www.nouvelles-du-monde.com · xeu.mx · www.kentgazetesi.com
- [● 14 SOURCES] France has moved its gold reserves from the US to its home territory. kahawatungu.com · www.chinesepress.com · www.nouvelles-du-monde.com · www.kentgazetesi.com · www.cnbce.com · +8 more
- [● 10 SOURCES] Germany transferred over 216 tonnes of gold from overseas storage facilities in previous years. kahawatungu.com · www.kentgazetesi.com · racin.mk · www.bbc.com · otvoreno.me · +4 more
- [● 10 SOURCES] The Dutch gold reserve in London increased from 18.1% to 32.1% following the relocation. www.chinesepress.com · xeu.mx · www.cnbce.com · nezavisen.mk · www.tmtpost.com · +4 more
- [● 14 SOURCES] The 86 tonnes of gold were moved from the US and Canada between March and August. www.chinesepress.com · xeu.mx · www.cnbce.com · nezavisen.mk · racin.mk · +9 more
- [● 31 SOURCES] The Netherlands moved approximately 86 tonnes of gold from North America to London to improve crisis preparedness. kahawatungu.com · www.nouvelles-du-monde.com · www.bbc.co.uk · xeu.mx · www.kentgazetesi.com · +26 more
- [● 9 SOURCES] Geopolitical tensions and trade wars are factors in the decision to move gold reserves. kahawatungu.com · www.kentgazetesi.com · www.cnbce.com · racin.mk · www.bbc.com · +3 more
- [● 8 SOURCES] The Netherlands holds a total of 612.4 tonnes of gold reserves. www.chinesepress.com · nezavisen.mk · xeu.mx · www.kentgazetesi.com · www.072info.com · +3 more
- [● 11 SOURCES] Over 27 tonnes of gold were physically transported from North America to the Netherlands. www.kentgazetesi.com · www.chinesepress.com · nezavisen.mk · worldstockmarket.net · www.europesays.com · +6 more
- [● 8 SOURCES] The share of Dutch gold held in Ottawa fell from 19.7% to 18.5%. www.cnbce.com · www.chinesepress.com · nezavisen.mk · xeu.mx · international.sindonews.com · +2 more
- [● 8 SOURCES] The share of Dutch gold held in New York fell from 31.3% to 18.5%. www.cnbce.com · www.chinesepress.com · nezavisen.mk · xeu.mx · international.sindonews.com · +2 more