Netherlands transports 86 tons of gold from the US and Canada to London

The Dutch central bank transferred approximately 86 tonnes of gold from the United States and Canada to the United Kingdom, a move it said was aimed at bolstering its readiness to handle crises amid “growing geopolitical turbulence.” According to CNBC, the bank moved slightly more than a quarter of its gold reserves, previously stored in New York and Ottawa, to London between March and August. The gold was deposited with the Bank of England, which confirmed that the gold stored there meets international trade standards and is widely recognized as “the most tradable in the world,” thereby enhancing preparedness for crisis management. The Dutch central bank noted that gold bars stored in the United States and Canada could not be accessed as quickly or efficiently as those in London in the event of a crisis. Central Bank Governor Oolf Slaypen stated that the transfer “improved the tradability of the gold reserves,” adding that the institution did not anticipate needing to use these reserves but was seeking to raise levels of flexibility and preparedness for future risks. The move comes as gold continues to post strong gains, supported by geopolitical uncertainty, including ongoing tensions between the United States and Iran over the Strait of Hormuz, with the prospects of a comprehensive settlement remaining uncertain.