Netherlands: The Dutch central bank said Wednesday that it has shifted about 86 tonnes of its gold reserves from New York and Ottawa to London, a move aimed at improving gold transferability and strengthening crisis preparedness.
The relocation was made in two batches, according to a De Nederlandsche Bank (DNB) news release. About 59 tonnes of the gold were relocated by selling in the New York market and buying equivalent bullion in London. More than 27 tonnes were physically transported from the United States and Canada to the central Dutch town of Zeist, with an equal amount of gold meeting international market standards then transferred from Zeist to London, leaving the total size of the Dutch gold reserves unchanged.
According to the DNB, the Netherlands held 612.4 tonnes of gold at the end of 2025, mainly across Zeist, London, New York and Ottawa. After the adjustment, the share stored in Zeist remained at 30.8 per cent, while the portion in New York dropped sharply from 31.3 per cent to 18.5 per cent and the Ottawa share fell from 19.7 per cent to 18.5 per cent. London's share rose from 18.1 per cent to 32.1 per cent.
The gold held with the Bank of England is regarded as the world's most easily tradable gold and will therefore be the most readily available for the DNB in a crisis situation, the Dutch central bank said.
The decision reflects the DNB's growing concern about transatlantic tensions since Donald Trump reclaimed the presidency. The central bank previously warned that the US could easily cut off Dutch payment transactions and urged reduced dependence on the US.
France has moved in a similar direction. In April, the French central bank announced that it had completed the transfer of 129 tonnes of gold that had been stored in New York since the late 1920s. The operation, carried out in 26 stages between July 2025 and January 2026, involved selling the New York holdings at market prices and purchasing equivalent gold in Europe for transport to Paris. All of France's 2,437 tonnes of gold reserves are now held domestically.