Dutch central bank shifts gold reserves from North America to London
The Netherlands’ central bank has moved most of its gold stored in the US and Canada to London, saying the change improves access during a crisis.
The Dutch central bank has transferred 86 tonnes of gold from vaults in the United States and Canada to London, citing rising geopolitical tensions. De Nederlandsche Bank said the move was intended to make the reserves easier to use if needed quickly.
The bank said gold kept in London can be traded more readily than bullion stored in New York and Ottawa. It said that difference matters if officials need to respond fast in a crisis.
The shift leaves a larger share of the Netherlands’ gold holdings in the UK, according to the bank. The move follows similar steps by other European central banks this year as they reassess where to keep reserve assets.
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