Dutch Central Bank Moves 86 Tonnes of Gold to London
The Dutch central bank moved 86 tonnes of gold from US and Canadian storage to London, citing faster access to the metal during a crisis and rising geopolitical uncertainty.
In short
- The Dutch central bank moved 86 tonnes of gold from US and Canadian storage to London, citing faster access to the metal during a crisis and rising geopolitical uncertainty.
De Nederlandsche Bank has shifted 86 tonnes of the Netherlands’ gold reserves from storage in the United States and Canada to London, saying the change improves access to the metal during a crisis amid growing geopolitical uncertainty.
The Dutch central bank said on Wednesday, September 2, 2026, that London offers a deeper and more liquid gold market than New York or Ottawa, allowing reserves held there to be deployed more quickly if needed. Bank president Olaf Sleijpen said the institution does not expect to use the gold but wants to strengthen its resilience and preparedness.
The transfer took place between March and August 2026 through a combination of market transactions and physical movements. More than 27 tonnes of physical gold was transported from the United States and Canada to Zeist in the Netherlands, while an equal amount was moved from Zeist to London. The bank said this approach spread the risks involved in moving a large volume of bullion.
Following the operation, London’s share of Dutch gold reserves rose from 18.1 percent to 32.1 percent. The shares held in New York and Ottawa each fell to 18.5 percent, while 30.8 percent remains in the Netherlands.
At the end of 2025, the Netherlands held 612.4 tonnes of gold valued at €72.2 billion, equivalent to about $83.7 billion at the figure reported by the bank. The relocation does not change the total size of the reserve; it changes where part of it is stored and how readily it can be traded.
The move comes as central banks reassess reserve logistics and geopolitical exposure. Analysts cited in the source report described London as the largest and most liquid venue for gold transactions, while cautioning that the Dutch decision remains an isolated move unless other central banks adopt similar policies.
