Netherlands moves billions in gold to London in 'crisis preparedness' move
The Dutch central bank has relocated 86 tonnes of gold from North America to London to enhance crisis preparedness amid geopolitical instability. The move follows increased trade tensions between the US and Canada and ongoing global economic uncertainty.
Why it matters
It illustrates how central banks are adjusting their asset storage strategies in response to shifting global trade relations and geopolitical risks.
Image source, Reuters Image caption, While much of the gold was sold in New York and then repurchased in London, more than 27 tonnes was physically moved to the UK
The Dutch central bank (DNB) has confirmed that billions of dollars in gold has been taken out of north America and relocated to London, citing "increasing geopolitical unrest".
DNB said on Wednesday that 86 tonnes of gold had been removed from the US and Canada in a complex operation that took several months. It is now being held by the Bank of England, where the precious metal can be traded more easily "in a crisis situation".
Bank president Olaf Sleijpen said the move was "necessary to strengthen our resilience and preparedness".
The decision comes amid an ongoing trade dispute between the US and Canada, with both countries announcing fresh tariffs on each other after failed trade talks.
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