Why has the Netherlands moved $10bn of its gold from the US?
Summary
The Netherlands has moved about $10 billion of its gold reserves from the United States and Canada to the United Kingdom to be better prepared for serious crises. The Dutch Central Bank said this move improves the balance and accessibility of their gold holdings amid increasing global tensions.Key Facts
- The Netherlands holds 612.4 tonnes of gold worth around €72.2 billion ($83.8 billion).
- Previously, 31.3% of this gold was stored in New York, 19.7% in Ottawa, 18.1% in London, and 30.8% in Zeist, the Netherlands.
- The Dutch Central Bank moved approximately €10.11 billion ($11.73 billion) worth of gold from the US and Canada to the UK.
- Gold was moved by both selling in one location and buying in another, and by physically transporting gold bars.
- About 59 tonnes of gold were sold in New York and repurchased in London; 27 tonnes were physically moved from North America to Zeist and then from Zeist to London.
- After the move, the new distribution is London 32.1%, Zeist 30.8%, New York 18.5%, and Ottawa 18.5%.
- The Dutch Central Bank did not specify which crisis they are preparing for, but cited geopolitical tensions including trade disputes and conflicts involving the US.
- The move is part of standard risk management to diversify where gold reserves are kept and improve readiness for financial emergencies.
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