The Netherlands Repatriates 86 Tons of Gold to London

The Dutch central bank (DNB) has reorganized the location of 86 tons of gold between March and August 2026, transferring a significant portion of its reserves from New York and Ottawa to London, the main global center for physical gold trading. This operation does not increase the amount of gold held by the Netherlands but aims to make these reserves more easily mobilizable in times of crisis. Before the transfer, 31.3% of the gold was in New York and 19.7% in Ottawa, while after the transfer, these sites hold only 18.5% each. The share at the Bank of England increases from 18.1% to 32.1%, and the Zeist center retains 30.8% of the national stock. The choice of London is motivated by liquidity constraints, as bars meeting international standards can be traded more quickly. Approximately 59 tons of gold from New York were sold, and an equivalent amount was purchased in the UK. More than 27 tons of gold were transported from North America to Zeist, while a similar quantity was transferred to London. This mechanism has allowed for the avoidance of remelting old bars and has tested purchasing and transportation procedures. The DNB maintains a total gold quantity of 612.4 tons, but with a larger share now quickly negotiable.

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