Netherlands Moves Gold Reserves to London

The Dutch central bank, De Nederlandsche Bank (DNB), has moved approximately 86 tonnes of its gold reserves from the United States and Canada to London between March and August 2026. The bank said the decision was part of its efforts to strengthen crisis preparedness amid increasing geopolitical uncertainty. Keeping a larger share of the reserves in London is expected to make the gold more readily available and easier to trade during a crisis.

The operation involved both physical transfers and market transactions. More than 27 tonnes were physically moved from North America to DNB’s facility in Zeist, with a similar quantity subsequently transferred to London. Another portion was sold in New York and an equivalent amount was purchased in London, reducing the need to physically move and remelt large quantities of gold. London is considered a major global centre for physical gold trading, while the Bank of England provides secure custody and access to the liquidity of the London gold market.