Dutch central bank relocates billions in gold from North America to London

The Dutch central bank said it transferred roughly 86 metric tons of gold from its holdings in New York and Ottawa to a vault in London and to a secure facility near Zeist, Netherlands, between March and August. The move reduced the share of gold stored in New York and Ottawa from 31.3% and 19.7% to 18.5% each, while the total gold owned by the bank stands at 612.4 metric tons, valued at about 72.2 billion euros.

"With this relocation, we have improved the tradability of our gold reserves," Governor Olaf Sleijpen wrote. "We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness." The bank indicated that more than 27 metric tons were physically moved from North America to the Zeist vault, with a similar amount then sent to London. The remaining portion of the relocation was achieved by selling around 59 metric tons in New York and using the proceeds to purchase gold in London.