Dutch central bank shifts billions in gold to London in ‘crisis preparedness’ move - AP News

The Dutch central bank, De Nederlandsche Bank, has transferred a portion of its gold reserves to storage facilities in London. The relocation involves several billion euros’ worth of gold that had previously been held in vaults in the United States and Canada.

According to the bank, the move is part of a broader “crisis preparedness” strategy aimed at diversifying the geographic distribution of its gold holdings. By spreading the reserves across multiple locations, the bank seeks to reduce the risk associated with concentrating assets in a single region.

Officials cited increasing geopolitical unrest as a key factor behind the decision. The bank indicated that heightened tensions and uncertainties in the global environment prompted a reassessment of the security and accessibility of its gold reserves.

The transfer is being conducted in cooperation with the Bank of England, which will provide secure storage for the Dutch gold in its London vaults. The arrangement is intended to ensure that the reserves remain protected and readily available should any crisis arise.

The Dutch central bank has not disclosed the exact quantity of gold moved, but described the amount as amounting to billions of euros. The relocation is expected to be completed in the coming weeks, with the bank monitoring the situation and remaining prepared to adjust its holdings as needed.