De Nederlandsche Bank moved about 86 tonnes of gold from the US and Canada to London between March and August 2026 to improve the tradability of its reserves. London now holds 32.1% of the Dutch gold stock, which the bank values at $83.77 billion.
De Nederlandsche Bank (DNB) has relocated roughly 86 tonnes of gold from vaults in the US and Canada to London between March and August 2026. The Dutch central bank carried out the move through a mix of sales and physical transfers.
How the transfer worked
DNB sold roughly 59 tonnes in New York and bought equivalent amounts in London, avoiding the cost of shipping the metal across the Atlantic. It also moved more than 27 tonnes via its Zeist vaults without remelting the bars.
A reshuffled reserve
After the relocation, London now holds 32.1% of the reserves while New York and Ottawa each hold 18.5%. The total Dutch gold stock remains 612.4 tonnes, valued at $83.77 billion at the end of 2025.
DNB tied the move to rising geopolitical risk and crisis preparedness. According to Governor Olaf Sleijpen: "With this relocation, we have improved the tradability of our gold reserves." He added that the bank expects it will never need to use the gold, but does need to strengthen its resilience and preparedness. London was chosen because it allows the quickest deployment in an emergency.
Gold is trading at $4,480 per ounce at time of writing.
Sources: DNB, The Daily Hodl
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