The Dutch central bank has moved the equivalent of 86 tonnes of gold from the United States and Canada to London.
De Nederlandsche Bank, known as DNB, said the operation took place between March and August 2026.
The bank cited increasing geopolitical unrest and said the move would improve its ability to access and trade the gold during a serious crisis.
London is one of the world’s main centres for physical gold trading. Gold stored at the Bank of England also meets modern international trading standards.
DNB Governor Olaf Sleijpen said the bank does not expect to use the reserves but must improve its resilience and preparedness.
Not all 86 tonnes were physically transported directly to London.
DNB sold about 59 tonnes of gold in New York and bought an equivalent amount in London.
More than 27 tonnes were physically moved from the United States and Canada to DNB’s secure facility in Zeist, Netherlands. A similar quantity of suitable gold was then moved from Zeist to London.
The central bank said combining physical transportation with buying and selling helped reduce the risks and costs of the operation.
The Netherlands still owns the same total amount of gold. Its reserves stood at 612.4 tonnes and were valued at €72.2 billion at the end of 2025.
Following the relocation, London’s share of the reserves increased from 18.1% to 32.1%.
The amount stored in New York fell from 31.3% to 18.5%. Ottawa’s share dropped from 19.7% to 18.5%.
The Netherlands continues to hold 30.8% of its gold at home in Zeist.
DNB said spreading the reserves more evenly across different countries would reduce risk and make the gold easier to use during an emergency.
