Dutch central bank moves 86 tonnes of gold from U.S., Canada to London
The Dutch central bank (DNB) has relocated 86 tonnes of gold reserves from the US and Canada to London. The move is intended to improve liquidity and strengthen the bank's resilience against systemic economic risks.
Why it matters
The relocation reflects growing concerns among European central banks regarding geopolitical stability and the accessibility of assets held abroad.
(Kitco News) - Against a backdrop of growing economic and geopolitical uncertainty, including rising trade tensions between Canada and the U.S., one European central bank is taking steps to improve the liquidity and accessibility of its gold reserves, moving some of its holdings from New York and Ottawa to London.
Wednesday, the Dutch central bank, De Nederlandsche Bank (DNB), said it has moved 86 of its 313 tonnes of gold from the U.S. and Canada to London.
The DNB said it moved the gold to strengthen its crisis preparedness and improve the liquidity and tradability of its reserves. The central bank said that its gold reserves held in New York and Ottawa cannot be utilised as quickly and directly in such a situation.
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