Netherlands Repatriates 86 Tonnes of Gold From US and Canada
· World · ABC News (AU), LiveMint
The central bank of the Netherlands, De Nederlandsche Bank, has relocated 86 tonnes of its gold reserves from the United States and Canada to the Bank of England in London. The bank stated the move aims to enhance crisis preparedness and ensure reserves are more readily available during systemic risks. The gold was transferred through a combination of physical shipments and a buy-and-sell process to optimize cost and security. While the bank cited geopolitical unrest as a factor, it did not provide specific reasons for the timing of the decision. The Netherlands currently holds 612.4 tonnes of gold, valued at approximately 72.2 billion euros.
Why it matters
The relocation reflects a growing trend among central banks to hold physical gold reserves in more accessible locations to hedge against potential systemic economic crises.
Read the original report — ABC News (AU)
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