The central bank of the Netherlands has decided to transfer over 78 tonnes of gold from New York to London, citing the growing geopolitical instability. This measure reinforces its preparedness for future crises.
More than 78 tonnes of gold have been transferred by the central bank of the Netherlands, known as DNB, from New York to London. The decision responds to the "growing geopolitical instability," as reported by expansion.com.
The governor of DNB, Olaf Sleijpen, explained that this move aims to "improve the negotiability of our gold reserves." London is considered the largest global centre for physical gold trading, with transactions exceeding 900 billion dollars weekly.
This action follows a request from European politicians and lobbying groups demanding the repatriation of gold reserves from the United States, warning of a potential risk of confiscation by an unstable US government.
DNB holds a total of 612 tonnes of gold, and in this transfer, some reserves in America were sold to purchase new bars in London. In a context where gold prices have increased by 25% in the last year, DNB seeks to diversify its storage and strengthen its crisis response capacity.
The central bank also states that the gold stored at the Bank of England meets "modern international trading standards," making it the most easily negotiable in the world. Sleijpen concluded: "We hope never to have to use it, but we need to be prepared."
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