The Dutch central bank De Nederlandsche Bank (DNB) has said it relocated billions of euros worth of gold formerly held in the US and Canada to the Bank of England, to make its reserves more readily available in a crisis.

Between March and August 2026, DNB said it transferred 86 tonnes of gold from a total of 313 tonnes previously held in the region.

Approximately 18.5 per cent of DNB’s gold reserves are now held in New York, down from 31.3 per cent prior to the relocation. Its Ottawa reserves have fallen a smaller amount, from 19.7 per cent to 18.5 per cent.

The bank said it sold 59 tonnes of gold in New York and repurchased gold that meets international market standards in London. A further 27 tonnes of gold was physically moved from New York and Ottawa to Zeist, with a similar quantity of gold moved from Zeist to London.

Olaf Sleijpen, DNB governor, said: “With this relocation, we have improved the tradability of our gold reserves. We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness.”

In a statement announcing the move, DNB added that gold held in the Bank of England is considered “the world's most easily tradable gold”, making it more accessible in a crisis situation than reserves held in New York or Ottawa.

DNB’s full foreign reserves stand at approximately 612.4 tonnes, which the bank says were worth €72.2 billion at the end of 2025.

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