De Nederlandsche Bank (DNB) announced on September 2, 2026, that it had moved approximately 86 metric tons of its gold reserves from facilities in New York and Ottawa to London. This strategic relocation, executed between March and August 2026, was undertaken to enhance the tradability and liquidity of the Dutch gold holdings, making them more readily available in the event of severe crises, particularly in light of heightened geopolitical unrest. Olaf Sleijpen, DNB Governor, stated that while they hope never to use the reserves, strengthening resilience and preparedness is crucial.
Before the transfer, the Dutch gold reserves, totaling 612.4 tonnes and valued at €72.2 billion (approximately $83.6 billion) as of year-end 2025, were distributed with 31.3% in New York and 19.7% in Ottawa. Following the move, both New York and Ottawa now each hold 18.5% of the reserves. London's share significantly increased from 18.1% to 32.1%, while 30.8% remains at DNB's Cash Centre in Zeist, Netherlands.
The relocation involved a dual approach: approximately 59 tonnes of gold were sold in New York and then repurchased in London to meet international trade standards. Additionally, over 27 tonnes of physical gold were moved from North America to Zeist, and a similar quantity of internationally compliant gold was simultaneously transferred from Zeist to London to avoid remelting bars. This mixed strategy aimed to spread risks, optimize efficiency, and gain experience with different relocation methods, further contributing to DNB's crisis preparedness. The total volume of gold reserves held by the Netherlands remains unchanged.
