De Nederlandsche Bank relocated roughly 86 tonnes of gold from North America to London between March and August 2026, citing crisis preparedness and the move to a closer, more geopolitically secure financial hub. London’s share of the Dutch reserves rose to 32.1 percent from 18.1 percent, while New York and Ottawa each fell to 18.5 percent and the share stored domestically in Zeist held at 30.8 percent. The bank holds 612.4 tonnes of gold, worth 72.2 billion euros at end-2025. To make the move work, DNB sold about 59 tonnes in New York and bought the same amount in London, physically transported 27 tonnes from Ottawa and New York to Zeist under armed guard, and then transferred market-standard bars from Zeist to London, leaving total reserves unchanged.
Governor Olaf Sleijpen said the relocation improved the tradability of the reserves and strengthened resilience. The move follows the French central bank’s relocation of 129 tonnes of gold held at the New York Fed between July 2025 and January 2026. Gold that sits at the Bank of England meets modern international trade standards, making it the world’s most easily tradable bullion, and the pattern of repositioning toward London is now a visible central-bank trend rather than an isolated decision.