Business & Finance
Dutch central bank transfers over $10 billion in gold reserves out of North America
The Netherlands relocated substantial gold reserves from the United States and Canada to London and domestic vaults to enhance market liquidity and crisis readiness.
The short version
- De Nederlandsche Bank has reallocated over 10 billion euros worth of sovereign gold from New York and Ottawa to storage in London and Zeist.
- The central bank used a combination of physical shipments and asset swaps, reducing its North American holdings from 51 percent down to 37 percent of total reserves.
- Dutch officials cited risk diversification and easier tradability during systemic crises, while market analysts noted broader geopolitical and trade tensions.
- Central bank watchers remain attentive to whether additional European nations will adjust foreign gold storage allocations amid changing transatlantic ties.
Key facts
- The Dutch Central Bank (DNB) announced it relocated gold reserves valued at roughly 10.11 billion euros ($11.73 billion as of late 2025) out of the United States and Canada.[Al Jazeera]
- The transfer reduced holdings in New York from 31.3 percent to 18.5 percent and in Ottawa from 19.7 percent to 18.5 percent, while increasing London holdings to 32.1 percent and keeping domestic storage in Zeist at 30.8 percent.[Al Jazeera]
- The operational procedure combined physical shipments of more than 27 tonnes of bullion with selling roughly 59 tonnes in New York and purchasing replacement bullion in London.[Al Jazeera]
- DNB President Olaf Sleijpen stated the adjustment improves the tradability of the nation's 612.4 tonnes of total gold reserves and bolsters preparedness for severe crises.[Al Jazeera]
- The action follows Banque de France's January move relocating 129 tonnes of gold from the Federal Reserve Bank of New York back to Paris.[Al Jazeera]
What remains uncertain
- The specific systemic or geopolitical risks that prompted the timing of the reallocation were not detailed by the Dutch central bank, leading market observers to speculate on factors like transatlantic trade disputes and diplomatic friction.[Al Jazeera]