De Nederlandsche Bank Moved Its Gold Reserves from New York to London
De Nederlandsche Bank relocated more than 78 tons of gold held in New York to London to strengthen preparedness against crises.
De Nederlandsche Bank relocated more than 78 tons of gold it held in New York to London in order to distribute reserves more evenly and strengthen preparedness against potential crises. Total gold reserves were announced as approximately 612 tons.
Rationale for Moving Reserves to London
De Nederlandsche Bank aimed to achieve a more balanced distribution of reserves across different countries and enhance crisis preparedness by moving more than 78 tons of gold from New York to London.
Advantages of the London Market
De Nederlandsche Bank Executive Board member Olaf Sleijpen stated that the marketability of the gold moved to London has increased. In London, one of the world's largest physical gold trading centers, more than $900 billion in transactions take place weekly.
Physical Transportation and Swap Method
Not all of the planned approximately 85-ton amount—consisting of 78 tons from New York and 7 tons from Ottawa, Canada—was physically transported across the Atlantic. While only 27 tons of physical gold were transported to Europe from America and Canada, the remaining portion was sold in America and swapped for new bullion from London.
Similar Steps in Europe
This move by the Netherlands is not a first in Europe. France also withdrew all its gold reserves from the Federal Reserve Bank of New York between July 2025 and January 2026 using a similar method.
Global Gold Market and Status of Other Countries
While it is observed that gold prices have risen by 25 percent over the past 12 months and reached the level of $4,364 per ounce, approximately one-third of Germany's reserves still remain in New York.