Netherlands moves 86 tonnes of gold from U.S. and Canada amid geopolitical concerns

The Netherlands has moved 86 tonnes of gold out of the United States and Canada, citing rising geopolitical instability and the need to strengthen its ability to respond to a crisis.

The Dutch central bank, known as DNB, said gold held in London could be traded more easily than reserves stored in New York and Ottawa. “Against the backdrop of increasing geopolitical uncertainty, DNB is strengthening its crisis preparedness. Gold stored at the Bank of England is considered the most tradable gold in the world,” the bank said.

The transfer involved selling about 59 tonnes of gold in New York and buying gold in London that met the Bank of England’s trading standards, Reuters reported. DNB also moved more than 27 tonnes from North America to Zeist in the Netherlands, then transferred an equivalent amount from Zeist to London.

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Against the backdrop of increasing geopolitical uncertainty, DNB is strengthening its crisis preparedness. Gold stored at the Bank of England is considered the most tradable gold in the world.

DNB President Olaf Sleijpen said the bank did not expect to need the reserves, but considered greater resilience and preparedness necessary. “We think we will never need to use this gold, but strengthening resilience and readiness is still necessary,” he said in a statement.

The Netherlands held 612.4 tonnes of gold worth about $83 billion at the end of 2025. Before the move, New York held 31.3% of the country’s reserves and Ottawa held 19.7%. Afterward, each city held 18.5% of the total.

Analysts said DNB’s explanation was credible from a market perspective, since gold stored at the Bank of England is generally regarded as easier to trade when markets are under stress.

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We think we will never need to use this gold, but strengthening resilience and readiness is still necessary.