Dutch central bank moves 86 metric tons of gold from New York and Ottawa to London, citing rising geopolitical risks and the need for stronger crisis preparedness

The Dutch central bank (DNB) moved just over a quarter of its gold reserves held in New York and Ottawa to London between March and August, roughly 86 metric tons, now stored with the Bank of England. DNB said gold in London meets international trade standards and is the most easily tradable, unlike bars in the U.S. and Canada, which could not be used as quickly in a crisis. Governor Olaf Sleijpen said the relocation improves tradability and resilience, though the bank expects never to use the reserves. The move comes as gold trades at $4,429.61 per ounce, up nearly 25% over 12 months, amid U.S.-Iran tensions over the Strait of Hormuz.

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