The Dutch central bank has relocated a significant portion of its gold reserves from North America to London, citing global political instability and the need to enhance crisis preparedness. Between March and August 2026, the bank transferred approximately 86 metric tons (around 95 tons) of gold from holdings in New York and Ottawa to London.

Prior to the move, New York held 31.3% and Ottawa 19.7% of the Netherlands' total gold reserves. Following the relocation, each North American city now accounts for 18.5%, while the share stored in London increased from 18.1% to 32.1%. The bank’s total gold reserves amount to about 612.4 metric tons, valued at roughly 72.2 billion euros as of the end of 2025.

The central bank explained that gold reserves in London are considered more readily tradable than those held in New York and Ottawa. The gold stored at the Bank of England's vault is said to comply with modern international trade standards, making it more accessible in times of crisis. “With this relocation, we have improved the tradability of our gold reserves,” DNB Governor Olaf Sleijpen said, adding that while they hope the reserves will never need to be used, the move strengthens the bank’s resilience and preparedness.

The transfer involved a mix of physical shipments and financial transactions. Over 27 metric tons of gold were physically transported from the United States and Canada to a secure vault at the Dutch central bank’s military base near Zeist. A similar amount was then moved from Zeist to London. The remainder was relocated through selling approximately 59 metric tons of gold in New York and repurchasing an equivalent amount in London.

The move reflects broader caution amid escalating geopolitical tensions. By consolidating a larger portion of its reserves in London, the Dutch central bank aims to maintain greater flexibility and readiness in managing its assets under uncertain global conditions.