GoKawiilThe Nederlandsche Bank (DNB) announced on Wednesday it relocated the equivalent of over 10 billion euros in gold from facilities in the United States and Canada over concern for global tensions. The Dutch central bank essentially moved 86,000 kilograms of gold to the Bank of England in London to make it easier to liquidate reserves should a crisis situation arise.
The Dutch national gold reserve currently consists of 612.4 tonnes, which was valued at 72.2 billion euros at the end of last year. Roughly 32 percent of that total is currently stored in London, and 31 percent is in Zeist, where the DNB has stockpiled gold after moving it out of Amsterdam. Approximately 18.5 percent is still in New York, and an equivalent amount is in Ottawa.
A total of more than 27 tonnes of gold was physically transferred from the locations in North America to DNB Cash Centre in Zeist, Utrecht, between March and August. Another 59 tonnes of gold kept in New York was also sold off during this time, while the equivalent amount of gold was purchased in London. To maintain the spread without increasing the supply held in the Netherlands, 27 tonnes of gold was also transferred from Zeist to London.
“Due to the increasing geopolitical instability, the DNB is working on improving its crisis readiness. Improving the marketability of Dutch gold, and with that how quickly it can be used in crisis situations, is a part of that,” the DNB said. The Bank of England "is regarded as the world's most easily tradable gold and will therefore be the most readily available for DNB in a crisis situation," the central bank said.
At the end of February, the DNB held the largest share of Dutch gold, 31.3 percent, in New York. Approximately 78.39 tonnes of gold owned by the Netherlands is no longer stored there. A portion of the Dutch reserve equal to 7.35 tonnes is no longer stored at the Ottawa location.
The gold that was relocated had an estimated value of 10.11 billion euros at the end of 2025. The value was estimated at 10.34 billion euros as of 3 p.m. on Wednesday in the Netherlands
Aside from nearly a third being held in New York earlier this year, just under 20 percent was in Ottawa, and 18 percent was kept in London. The remaining 31 percent was in Zeist. “A more equal spread of the gold supply between North America, the United Kingdom, and the U.S. also helps to spread the risk.”
The Netherlands still maintains a reserve of around 113,300 kilograms of gold in New York, and the same in Ottawa. More than 188,600 kilograms is in Zeist, and about 196,600 kilograms is in London.
The U.S. has been involved in a conflict with Iran in recent months, leading to global oil price increases. It has also been in conflict with Canada and Cuba and has conducted military operations in Caracas, Venezuela.