The Netherlands has moved 86 tonnes of gold from the United States and Canada to the United Kingdom. The transfer comes amid growing geopolitical tensions and changes in how the country manages its reserves.
The Dutch central bank, De Nederlandsche Bank (DNB), announced the move on Wednesday. It said gold stored in London can be traded more easily than reserves held in New York and Ottawa.
The decision has therefore changed the geographical distribution of the Netherlands’ gold reserves. However, a significant portion of the country’s holdings remains stored within the Netherlands.
How Much Gold Does the Netherlands Hold?
The Netherlands held 612.4 tonnes of gold reserves at the end of 2025. These reserves had a total value of €72.2 billion.
Before the latest transfer, 31.3% of the country’s gold reserves were stored in New York. Meanwhile, another 19.7% were held in Ottawa.
Following the transfer, the share of Dutch gold held in both the United States and Canada has fallen to 18.5% each. As a result, London now holds a much larger portion of the country’s gold reserves.
The share of Dutch gold stored in London has risen from 18.1% to 32.1%. Meanwhile, 30.8% of the country’s gold remains stored in the Netherlands.
Why Was the Gold Moved to London?
DNB said gold held in London can be traded more easily than gold stored in New York and Ottawa. Therefore, the transfer changes where the reserves are physically located while improving their accessibility for trading.
The central bank said the process involved both buying and selling gold and physically relocating reserves. This means the entire 86-tonne transfer did not involve a simple movement of the same gold bars.
As part of the process, more than 27 tonnes of gold were moved from the United States and Canada to Zeist in the Netherlands. An equivalent amount was then transferred from Zeist to London.
London Becomes a Larger Gold Reserve Location
The latest move has significantly increased London’s share of the Netherlands’ gold reserves. Its portion has climbed from 18.1% to 32.1% following the transfer.
At the same time, the shares held in New York and Ottawa have each declined to 18.5%. Nevertheless, almost one-third of the Netherlands’ gold reserves remains stored domestically.
The changes reflect the Dutch central bank’s decision to adjust the location of its gold holdings. Meanwhile, rising geopolitical tensions have added significance to how countries manage and position their reserves.
For the Netherlands, the latest transfer has therefore placed a much larger share of its gold in London while maintaining substantial holdings elsewhere.
