Netherlands Moves 86T Gold from US, Canada to UK
The Netherlands Central Bank relocated 86 tons of gold reserves from the US and Canada to the Bank of England between March and August 2026, citing rising geopolitical tensions and the need to improve crisis preparedness and liquidity. The move involved selling 59 tons in North America and repurchasing them in London, while 27 tons were physically transported.
Consensus
- The Netherlands Central Bank (DNB) relocated 86 tons of gold reserves from storage in the US and Canada to the Bank of England.
- The operation took place between March and August 2026.
- The move was motivated by rising geopolitical tensions and the need to enhance crisis preparedness.
- The goal was to improve the liquidity and accessibility of the gold reserves.
- After the transfer, 32.1% of the Netherlands' gold reserves were held in London, while 18.5% remained in New York and 18.5% in Ottawa.
- The Netherlands previously held 313 tons of gold in North America.
- The Bank of England's gold is considered the most liquid in the world.
- The operation followed similar moves by France and Germany.
Points of divergence
- The Netherlands sold approximately 59 tons of gold in the US and bought an equivalent amount in the UK, which was already in the correct format for the modern market, implying that the original gold did not meet current standards. — tg_rybar
- The total value of the transferred gold was approximately $12 billion, and the total gold reserves of the Netherlands were 612.4 tons worth $84.5 billion as of the end of 2025. — meduza
- The Netherlands physically transported only 27 tons across the ocean; the rest was sold and repurchased in the UK. — kommersant
- The operation involved selling 59 tons in New York and repurchasing them in London, with an additional 27 tons physically moved. — vesti
- The original gold stored in the US was technically non-compliant with modern standards, being mostly in 'coin' or 'semi-finished' formats from the mid-20th century. — tg_rybar
- The Netherlands has 30.8% of its gold reserves stored in Zeist, the Netherlands. — meduza
- The Netherlands followed France and Germany in relocating gold reserves, with Germany having previously returned gold from New York and Paris in 2016. — tg_rybar
- There is concern that US President Donald Trump could use control over foreign gold reserves stored in the US as leverage against Europe. — meduza
Coverage (4 sources)
- Changing the safe — Рыбарь
- Central Bank of the Netherlands transferred part of its gold reserve from the USA and Canada to the UK — amid 'geopolitical instability' — Meduza
- Central Bank of the Netherlands withdrew 86 tons of gold from the USA and Canada — Коммерсантъ
- Netherlands delivered 86 tons of gold from North America to Britain — Вести