Dutch central bank moved 86 tons of gold from North America to London

Geopolitical uncertainty is pushing some central banks to rethink where they store gold. According to NL Times, De Nederlandsche Bank (DNB) moved 86 tons of gold from New York and Ottawa to London between March and August 2026, citing rising geopolitical instability and a need to strengthen its crisis preparedness.

The transfer represented nearly one-third of the roughly 313 tons of gold that DNB had been holding in those two locations. The shipment was valued at about 10 billion euros.

London stockpile seen as easier to mobilize

DNB said gold stored in London is easier to trade than gold held in New York and Ottawa, making it the portion that can be accessed and used more quickly in a crisis. The bank added that distributing reserves more evenly between North America and the UK also helps spread risk.

Storage allocation shifted after the transfer

After the adjustment, the share of Dutch gold held in London rose from 18.1% to 32.1%. The shares stored in New York and Ottawa each fell to 18.5%. Before the move, New York accounted for about 31.3% and Ottawa for about 19.7%.

Move extends a broader central bank trend

The adjustment by DNB follows a broader trend in recent years in which central banks have brought gold back home or redistributed where it is stored. DNB explicitly tied its decision to rising geopolitical instability and the goal of being able to mobilize and liquidate gold more quickly during a crisis.

The report also said gold prices have recently remained volatile at elevated levels, caught between interest-rate pressure and currency-debasement trades.