European central banks shift gold reserves out of North America

The short version

• The Dutch central bank relocated roughly 86 metric tons of gold from New York and Ottawa to London between March and August to improve tradability and crisis resilience.[BBC News · Business Insider]
• France previously completed the removal of its New York gold holdings by early 2026, while Germany and Italy face domestic political scrutiny over their foreign-vaulted reserves.[Business Insider]
• A World Gold Council survey found 10% of central banks diversified overseas vaulting sites in the past year, reflecting broader shifts in reserve management amid geopolitical and economic uncertainties.[BBC News · Business Insider]

Key facts

• De Nederlandsche Bank relocated approximately 86 metric tons of gold from New York and Ottawa to London between March and August.[BBC News · Business Insider]
• The Dutch relocation raised London's share of Dutch gold reserves to 32.1%, while holdings in New York and Ottawa dropped to 18.5% each.[Business Insider]
• Banque de France sold its remaining gold held in New York between July 2025 and January 2026, acquiring replacement bullion in Europe.[Business Insider]
• A June survey by the World Gold Council showed 10% of central banks diversified overseas storage locations over the past year, while 9% increased domestic vaulting.[Business Insider]
• Goldman Sachs researchers forecast gold prices to reach $4,900 per troy ounce by the end of 2026.[BBC News]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Europe is rethinking where it keeps its goldBusiness Insider metered
• Why are European countries moving their gold out of North America?BBC News - Top Stories