Netherlands Transfers 86 Tons of Gold from US and Canada to London

The Netherlands has moved 86 tonnes of its gold stock from the United States and Canada to London due to increasing geopolitical unrest. The transfer follows comments suggesting that gold is no longer safe in the United States under President Donald Trump. The Dutch central bank, DNB, stated that relocating the gold would spread risks and provide quicker access to sell the gold in a crisis situation. Gold reserves in London can be traded more easily than those in New York and Ottawa. The move is also intended to create a more balanced distribution of gold reserves and enhance the bank's crisis preparedness. DNB President Olaf Sleijpen noted that while they do not anticipate needing to deploy the gold, strengthening resilience is necessary. Concerns about Trump's unpredictability have been cited as a reason for the transfer. Johan de Ruiter, director of Goudwisselkantoor, emphasized the urgency of removing gold from the US, stating it is no longer safe there. As of the end of 2025, the total Dutch gold stock was 612.4 tonnes, valued at 72.2 billion euros. Prior to the transfer, 31.3% of the gold was held in New York and 19.7% in Ottawa. After the move, both locations now account for 18.5% of the Dutch gold reserve, while the share in London increased from 18.1% to 32.1%. The bank now holds 30.8% of its gold in the Netherlands. The transfer involved both buying and selling gold and physically transporting it, with over 27 tonnes moved from the US and Canada to Zeist, and an equal amount then moved to London, preventing the need to melt down gold bars. DNB stated that this method helps spread the risks associated with moving large quantities of gold.