HAGUE (MNN); The Netherlands has become the latest European country to move part of its gold reserves out of the United States, with the Dutch central bank transferring 86 tonnes of bullion to London amid growing geopolitical uncertainty.
The Dutch central bank, De Nederlandsche Bank (DNB), announced that the transfer was carried out between March and August as part of what it described as efforts to strengthen “crisis preparedness” during a period of increasing geopolitical unrest.
Most of the gold was transferred from New York, while the remaining portion came from Canada. Only around 27 tonnes were physically shipped across the Atlantic, while the rest of the transfer was completed through the sale of gold holdings in North America and the repurchase of an equivalent amount in London.
Before the relocation, the Dutch central bank held around 313 tonnes of gold in North America.
DNB Governor Olaf Sleijpen said the move had improved the tradability of the country’s gold reserves and strengthened the Netherlands’ preparedness for potential crises.
“With this relocation, we have improved the tradability of our gold reserves,” Sleijpen said, adding that while the bank hoped it would never need to use the reserves, strengthening resilience and preparedness remained essential.
The Dutch move follows a similar trend among several countries seeking greater control over their gold reserves.
France’s central bank reportedly sold its remaining 129 tonnes of gold held in US Federal Reserve vaults in New York between July 2025 and January 2026. The proceeds were then used to acquire an equivalent quantity of gold in Europe, leaving France with no bullion holdings in the United States.
Germany had earlier repatriated a significant portion of its gold reserves. In 2017, Germany’s Bundesbank announced that it had completed the transfer of 300 tonnes of gold from New York to Frankfurt.
During President Donald Trump’s second term, several prominent German economists have also called for the return of Germany’s remaining gold reserves held in the United States.
Venezuela also moved a major portion of its gold reserves back home under former President Hugo Chavez. Around 160 tonnes of gold were repatriated from foreign banks by January 2012.
However, approximately 31 tonnes of Venezuelan gold remain held by the Bank of England. Attempts by former Venezuelan President Nicolas Maduro to bring the reserves back were blocked after Britain declined to recognise his government as Venezuela’s legitimate administration.
The Dutch central bank praised gold held at the Bank of England, describing it as among the most easily tradable gold in the world.
According to DNB, the Netherlands held around 612.4 tonnes of gold at the end of 2025, with an estimated value of €72 billion, or approximately $84 billion.
