Dutch central bank moves gold from U.S. and Canada to London over 'instability'
Dutch central bank moves share of gold from U.S., Canada to London
De Nederlandsche Bank (DNB) has relocated 86 tons of gold from New York and Ottawa to London between March and August 2026, citing increasing geopolitical instability. The move reduces the share held in the U.S. from 31.3% to 18.5% and in Canada from 19.7% to 18.5%, while London now holds 32.1% of the Dutch gold, making it the largest storage location, followed by Zeist with 30.8%. The DNB says the shift improves the marketability of its gold and spreads risk across North America, the UK, and the Netherlands.
Due to the increasing geopolitical instability, the DNB is working on improving its crisis readiness. Improving the marketability of Dutch gold, and with that how quickly it can be used in crisis situations, is a part of that.
- nfrankel
Fun fact, France did exactly the same earlier this year (though the trend has been there for decades).
- andsoitis
> “A more equal spread of the gold supply between North America, the United Kingdom, and the U.S. also helps to spread the risk.”
They’re not exiting all the gold held in North America; instead they’re rebalancing so that for more resilience against a backdrop of increased geopolitical risk.
- hd4
https://www.theguardian.com/business/2026/jan/06/bank-of-eng...
- roromainmain
Considering the Netherlands’ strategic ties with the US, this sounds like quite a bold move. France doing so was one thing, but the Dutchs have always been rather Atlanticists.
- scottLobster
One of the crazier ideas to address the deficit is revaluing gold reserves and throwing them at the deficit. Does anyone really think the Trump admin wouldn't consider seizing foreign gold reserves as part of such a move?
I know that instinctively sounds crazy, but this administration attacked Iran without a plan for their closing the Strait of Hormuz, and tariffed uninhabited islands based on an AI-generated list.
They're rational, but they're aggressive and dumb. Treat them as you would treat a guy who starts bar fights; one strategy is quietly moving to the far side of the bar, which is what this appears to be.
- kaon_2
It may be quirky for Americans to hear this, but one pivotal moment when it truly dawned on the average european citizen how corrupt the US has become, was when Trump phoned Infantino to drop a red card during the world cup. Blatant corruption for zero gain that even the Putin's and Xi Jin Pings never attempted. Any toddler could see how wrong it was and it was felt deeply in many hearts.
Needless to say trust is close to 0% throughout the population - even the right wing populists distance themselves from Trump - and this is the consequence. I fear we are heading into dangerous times.
- jmclnx
This shows how much trust in the US has declined due to Trump. Netherlands is not the only or first country to do this, other countries have started this too.
- adolph
Another interesting aspect to this story is the flow of value from US Treasuries to gold.
Total gold held by central banks globally was valued at approximately $4tr at
the start of 2026, surpassing, for the first time, the roughly $3.9tr in US
Treasuries held by the same institutions. This marked a reordering of reserve
asset preferences with significant long-term implications. [0]
0. https://www.investing.com/analysis/why-central-banks-are-bri...