Dutch Central Bank Relocates Gold to London for Crisis Preparedness

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Dutch Central Bank Relocates Gold to London for Crisis Preparedness

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The Dutch central bank, De Nederlandsche Bank (DNB), announced on Wednesday, September 2, 2026, that it has relocated approximately 86 tonnes of its gold reserves from storage facilities in the United States and Canada to London. This strategic move, which took place between March and August 2026, is a measure of “crisis preparedness” in response to “increasing geopolitical unrest.”

DNB President Olaf Sleijpen emphasized that the primary reason for the transfer is to enhance the deployability and tradability of the gold reserves. Gold held with the Bank of England in London is considered the world’s most easily tradable gold and can be deployed more quickly in a crisis situation compared to reserves held in New York and Ottawa. While the bank hopes never to need to deploy the gold, it views strengthening its resilience and preparedness as crucial.

Before the relocation, the Dutch bank held 31.3% of its gold in New York and 19.7% in Ottawa. Following the operation, both New York and Ottawa now each account for 18.5% of the Dutch gold reserve. The share of gold held in London has increased from 18.1% to 32.1%. Approximately 30.8% of the gold remains in the Netherlands, specifically at the DNB Cash Centre in Zeist. The total Dutch gold stock amounted to 612.4 tonnes and was valued at €72.2 billion ($83.7 billion) at the end of 2025.

The transfer was a complex operation involving both the buying and selling of gold, as well as physical transportation. More than 27 tonnes of physical gold were moved from the US and Canada to Zeist, and a similar quantity was then transferred from Zeist to London. This method allowed the bank to avoid melting down and recasting gold bars. The DNB stated that combining these methods helped spread the risks associated with such a large-scale physical relocation of gold.

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