The De Nederlandsche Bank (DNB) has completed a multi-month operation to relocate 86 tonnes of its gold reserves from North America to the Bank of England. The central bank stated that the move is a strategic measure to bolster resilience in response to rising geopolitical instability.

According to DNB, the transfer, which occurred between March and August, aims to position the precious metal in a location where it can be traded more efficiently during potential crises. Bank president Olaf Sleijpen described the relocation as a necessary step to enhance the institution's preparedness. The Bank of England is currently viewed by the DNB as the world's most accessible hub for gold trading.

The logistics of the operation involved a combination of physical transport and financial transactions. Approximately 27 tonnes of gold bars were physically moved from New York and Ottawa to Zeist, Netherlands, before being transferred to London. The remainder of the reserves were managed by selling holdings in New York and repurchasing equivalent amounts in London, a strategy the bank noted helped mitigate the risks associated with moving large quantities of physical assets.

Advertisement

Following these changes, the DNB’s gold holdings in London have risen from 18.1% to 32.1% of its total reserves. Conversely, the proportion of gold stored in the U.S. and Canada has decreased to 18.5% in each location. As of the end of 2025, the Netherlands held 612.4 tonnes of gold, with a total valuation of €72.2 billion.

The bank cited general geopolitical unrest as the primary driver for the shift, noting that the global economic landscape remains volatile due to ongoing trade disputes and international conflicts. The relocation comes as the U.S. and Canada navigate a period of strained trade relations, marked by the imposition of significant tariffs on various Canadian goods.

Source: BBC News