Dutch central bank relocates billions of euros in gold to London for crisis readiness

The Netherlands’ central bank has moved roughly 86 metric tons of gold, valued at about €72.2 billion, from its holdings in New York and Ottawa to the Bank of England in London and a heavily guarded vault on a military base near Zeist. Prior to the move the bank’s 313 metric tons were split between New York (31.3%) and Ottawa (19.7%); after the transfer both cities hold 18.5% each of the total 612.4 metric tons. Governor Olaf Sleijpen said the relocation improves the gold’s tradability and supports crisis preparedness, though the assets are not expected to be drawn on. More than 27 metric tons were transferred from the United States and Canada to the Zeist vault and onward to London.