The Netherlands has shifted 86 tonnes of its national gold reserves from storage locations in the United States and Canada to London, as the Dutch central bank seeks to strengthen its preparedness amid growing geopolitical uncertainty.

De Nederlandsche Bank (DNB) announced the move on Wednesday, explaining that keeping a larger proportion of its gold in London gives the country greater flexibility should the reserves ever need to be used during a crisis.

London is one of the world's most important centers for gold trading, and according to DNB, reserves stored there can be mobilized more readily than gold kept in New York or Ottawa.

DNB President Olaf Sleijpen said the relocation was designed to improve access to the country's reserves and strengthen the Netherlands' ability to respond to unexpected circumstances. Although the central bank does not expect to have to use its gold reserves, it considers adequate preparation important in an increasingly uncertain geopolitical environment.

London Takes a Larger Share of Dutch Gold

At the end of 2025, the Netherlands held 612.4 tonnes of gold, which DNB valued at approximately €72.2 billion.

Before the latest redistribution, 31.3% of the country's reserves were stored in New York, while another 19.7% were held in Ottawa.

Following the transfer, the proportion stored in each of those locations has fallen to 18.5%.

London's share, meanwhile, has increased considerably. The British capital previously held 18.1% of Dutch gold reserves, but that figure has now risen to 32.1%.

Another 30.8% remains stored within the Netherlands.

The new distribution means London now holds the largest individual share of the Dutch central bank's gold reserves.

Gold Moved Through a Combination of Transactions and Transport

Moving 86 tonnes of gold between countries is a major logistical operation, and DNB did not rely exclusively on physically transporting the entire amount.

Instead, the central bank used a combination of gold purchases and sales alongside the physical relocation of bullion.

More than 27 tonnes of physical gold were transported from the United States and Canada to Zeist in the Netherlands. An equivalent quantity was then transferred from Zeist to London.

This approach allowed DNB to reorganize its reserves without melting down existing gold bars. It reduced the risks associated with transporting a very large quantity of bullion in a single operation.

According to the central bank, combining market transactions with physical transportation helped spread the logistical risks involved in the redistribution.

Why Central Banks Keep Gold in Different Countries

Gold remains an important part of the reserves held by many central banks. Unlike conventional currencies or financial assets, physical gold does not depend on the solvency of another institution, making it potentially valuable during periods of severe financial or geopolitical disruption.

Where that gold is stored is almost as important as how much a country owns.

By spreading reserves between domestic and international locations, central banks can balance security with accessibility. In the Netherlands' case, the latest move gives London a considerably more prominent role in the country's gold-storage strategy.

DNB has emphasized that it does not anticipate having to deploy the reserves. Nevertheless, the decision reflects an effort to ensure that a larger portion of the country's gold can be accessed and traded quickly should exceptional circumstances arise.