Netherlands Moves $12 Billion Gold From New York to London Vaults
· Business · LiveMint, Times of India
The Dutch central bank has relocated about 86 metric tonnes of gold, worth roughly $12 billion, from vaults in New York and Ottawa to the Bank of England in London between March and August. The move represents over a quarter of the Netherlands' total bullion stored abroad and lifts London's share of Dutch reserves to nearly one-third, making it the largest holding location. Dutch Central Bank Governor Olaf Sleijpen said the relocation improved tradability and resilience, while Finance Minister Eelco Heinen kept the operation confidential until completion. The bank sold 59 tonnes in New York, purchased equivalent bullion in London, and physically transported the rest via its domestic vault at Zeist.
Why it matters
The shift is a signal of geopolitical caution by a European central bank and reinforces London's position as the dominant hub for global gold trading, with potential ripple effects on gold prices and reserve management strategies worldwide.
Read the original report — LiveMint
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