The Netherlands has moved 86 tonnes of gold reserves from the United States and Canada to the United Kingdom, citing growing geopolitical tensions around the world.
The Dutch central bank, known as DNB, announced the move on Wednesday. The bank said it wanted to make its gold reserves easier to access and trade if a major crisis occurs.
According to DNB, gold stored in London can be traded more quickly than gold held in New York or Ottawa. That makes London a more practical location if the Netherlands needs to use its reserves during an emergency.
Netherlands shifts gold reserves to London
DNB President Olaf Sleijpen said the move was part of efforts to improve the country’s financial preparedness.
The central bank does not expect to use the gold in a crisis. However, it believes the reserves must remain ready if circumstances change.
The Netherlands held a total of 612.4 tonnes of gold at the end of 2025. DNB valued those reserves at about €72.2 billion.
Before the latest transfer, around 31.3% of the country’s gold was stored in New York. Another 19.7% was held in Ottawa.
Following the move, the share held in the United States and Canada has fallen to 18.5%.
Meanwhile, London’s share has increased significantly.
London now holds a larger share
The amount of Dutch gold stored in London has risen from 18.1% to 32.1% of the country’s total reserves.
The Netherlands continues to hold the largest single share of its gold domestically. Around 30.8% remains stored within the country.
DNB said it used a combination of methods to complete the transfer. Part of the operation involved buying and selling gold. The bank also physically transported some of its reserves.
More than 27 tonnes of physical gold moved from the United States and Canada to Zeist in the Netherlands. The same amount then moved from Zeist to London.
This approach allowed the bank to avoid melting down existing gold bars.
DNB aims to reduce transfer risks
The Dutch central bank said combining financial transactions with physical transportation helped spread the risks involved in moving large amounts of gold.
The decision comes as governments and central banks continue to reassess their financial resilience amid rising geopolitical uncertainty.
For the Netherlands, holding more gold in London provides faster access to one of the world’s major gold trading centres.
DNB said it believes it will never have to deploy its gold reserves during a crisis. Still, the bank considers stronger preparedness an important part of protecting the country’s financial stability.
