The Dutch Central Bank (DNB) stated today that this move enables the country to quickly utilize its gold reserves in the event of a crisis. "We hope we will never have to use them, but enhancing our response capability and preparing for worst-case scenarios is necessary", DNB President Olaf Sleijpen said.

The DNB explained that it executed the gold transfer through a direct exchange and transport mechanism. Over 27 tons of gold were moved from the US and Canada to Zeist, Netherlands, the DNB's gold storage facility. An equivalent amount was then sent from Zeist to London, UK, allowing the DNB to avoid processing and reminting gold bars.

"This combination of direct exchange and transport helps diversify potential risks", the DNB emphasized.

The headquarters of the Dutch Central Bank in Amsterdam. Photo: AFP

According to the DNB, the Netherlands' total gold reserves amount to 612,4 tons, valued at 72,2 billion EUR (over 83 billion USD) by the end of 2025.

Before the withdrawal, the Netherlands held 31,3% and 19,7% of its gold reserves in the US and Canada, respectively. After the withdrawal of 86 tons of gold, this percentage in both countries decreased to 18,5%, while in London it increased from 18,1% to 32,1%. The Netherlands currently still holds nearly 31% of its gold reserves domestically.

In London, the Bank of England stores countries' gold reserves. This institution currently holds gold worth over 780 billion USD.

These large reserves help London maintain its position as the world's most liquid physical gold market, with hundreds of billions of USD traded weekly. As a result, central banks can quickly buy, sell, or collateralize gold to raise USD.

Nhu Tam (According to AFP, Reuters)