The Dutch central bank says the move will make its gold reserves easier to trade and deploy quickly during a crisis.
The Netherlands has moved about 86 metric tonnes of gold from New York and Ottawa to London, citing increasing geopolitical instability and the need to strengthen its preparedness for potential crises.
The move was carried out by De Nederlandsche Bank (DNB) between March and August 2026. The 86 tonnes represented more than a quarter of the roughly 313 tonnes of Dutch gold previously held in the United States and Canada.
DNB said gold held in London can be traded more easily than reserves stored in New York and Ottawa, allowing the central bank to deploy the assets more quickly if a crisis occurs.
The transfer was conducted partly through physical movement of gold and partly through transactions. About 59 tonnes were sold in New York and an equivalent amount purchased in London, while roughly 27 tonnes were physically transferred through the Netherlands before being moved to London.
The Netherlands holds a total of 612.4 tonnes of gold, valued at about €72.2 billion ($83.6 billion) at the end of 2025. Following the relocation, London now holds 32.1% of Dutch gold reserves, while New York and Ottawa each hold 18.5%. About 30.8% remains in the Netherlands.
DNB President Olaf Sleijpen said the bank does not expect to need to deploy the gold but considers stronger resilience and preparedness necessary amid rising geopolitical uncertainty.
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