Gold bars are hidden in a safe on the table of the precious metals dealer “Pro Aurum.”
Sven Hoppe | Picture Alliance | Getty Images
The Dutch Central Bank (DNB) has transferred around 86 tonnes of gold from the US and Canada to the UK as it strengthens its contingency plans in light of “increasing geopolitical instability”.
DNB announced on Wednesday that just over a quarter of the central bank’s gold reserves held in New York and Ottawa were transferred to London between March and August.
DNB said the transferred gold is now being held at the Bank of England, as gold held at the bank must meet international trade standards and is recognized as the “most tradable gold in the world”, adding that the move will strengthen its “crisis preparedness”.
In contrast, DNB said gold bars held in the United States and Canada cannot be accessed as quickly and directly in a crisis situation.
“With this transfer, we have improved the tradability of our gold reserves. We expect that we will no longer need to use our gold reserves, but we need to strengthen our resilience and preparedness,” DNB President Olaf Slijpen said in a statement.
The move comes amid a massive rise in gold prices and continued geopolitical tensions between the United States and Iran over the strategic Strait of Hormuz, with no certainty that a comprehensive settlement agreement will be reached.
The price of gold, typically considered a safe-haven asset in times of financial turmoil, has risen nearly 25% in the past 12 months. The yellow metal is currently trading at $4,429.61 per ounce, up nearly 1% during the session.
The Dutch central bank’s move came after the French central bank exchanged 129 tonnes of gold held at the New York Federal Reserve between July 2025 and January 2026.
Banque de France Governor François Villeroy de Galau said at the time that the move was not politically motivated.
In light of the transfer, DNB said the geographic spread of its gold reserves is now “more balanced”, with London now holding 32.1%, the central bank’s cash center in Zeist, Netherlands, holding 30.8%, and New York and Ottawa holding 18.5%.
Correction: This article has been updated to reflect that approximately 86 tonnes of gold was transferred to the UK from the US and Canada.
