The Dutch central bank has moved gold valued at several billion US dollars from the United States and Canada to storage in London, citing geopolitical risk concerns.
On Wednesday, 2 Sep 2026 GMT+7, the Dutch Central Bank (DNB) confirmed it had relocated gold worth several billion dollars from North America to London, citing "rising geopolitical unrest."
DNB stated that a total of 86 tons of gold was transferred from the US and Canada through a complex operation lasting several months. The gold is now stored at the Bank of England, where the precious metal can be more easily traded "in times of crisis."
Olaf Sleijpen, president of the Dutch central bank, said the move was "necessary to strengthen our resilience and preparedness."
This decision comes amid an ongoing trade dispute between the US and Canada, with both countries imposing new retaliatory tariffs after trade talks failed.
DNB explained that from March to August, 27 tons of gold bars were transported from New York and Ottawa to Zeist in the Netherlands. Subsequently, a similar amount and quality of gold was moved on to London without the need to melt the bars.
However, no specific details were disclosed on how such a large quantity of gold was transported across the Atlantic Ocean.
The central bank added that the remainder of the relocation process was carried out by selling gold in New York and repurchasing it in London.
"Combining the buying, selling, and physical transport allowed DNB to spread the risks involved in such a complex gold storage relocation," the statement said.
DNB did not specify what "geopolitical unrest" referred to, but the US economy remains uncertain due to an ongoing war with Iran, which affects global trade.
Meanwhile, Canada has been heavily impacted by US tariffs on key industries such as steel, aluminum, lumber, and vehicles, including an additional 50% tariff on Canadian goods worth about 28 billion Canadian dollars announced in August.
DNB noted that gold stored at the Bank of England is "the most easily tradable gold in the world," making it quicker to deploy in a crisis than gold held in the US or Canada.
Prior to Wednesday's announcement, DNB held 31.3% of its gold in New York and 19.7% in Ottawa; these proportions have now dropped to a combined 18.5% in those two countries.
DNB revealed that the Netherlands’ total gold reserves stood at 612.4 tons at the end of 2025, with an estimated value of 72.2 billion euros.
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Source:bbc