According to AFP, on September 2 local time, the Dutch Central Bank announced that due to increasing geopolitical instability, it will transfer approximately 86 tons of gold reserves from New York, USA, and Ottawa, Canada, to London, UK, between March and August this year.
According to reports, approximately 59 tons of gold were transferred through sales in the New York market and purchases in the London market. Over 27 tons of gold were transported from the United States to Zoutst in the Netherlands in physical form. An equivalent amount of gold that met international market standards was transferred from Zoutst to London.
The Bank of Holland believes that gold reserves stored in London are more convenient for trading compared to those stored in New York and Ottawa. "In case of a crisis, the Bank of Holland can use its gold reserves at the fastest possible speed."
The Governor of the Bank of Netherlands said: "Through this adjustment, we have increased the availability of our gold reserves. We do not consider that we will actually use this gold, but it is still necessary to enhance our resilience and emergency reserve capabilities."
According to data from the Dutch Central Bank, by the end of 2025, the total amount of gold reserves in the Netherlands will be 612.4 tons.
Before this adjustment, the Netherlands stored 31.3% and 19.7% of its gold in New York and Ottawa respectively. After the transfer, the proportion of gold stored in New York and Ottawa decreased to 18.5%. The proportion of gold stored in London increased from 18.1% to 32.1%, with 30.8% of the gold remaining in the Netherlands.
