Overview
- De Nederlandsche Bank completed the months‑long operation between March and August and disclosed the move on Wednesday, September 2, 2026.
- About 86 tonnes left New York and Ottawa and were reweighted toward London using two methods: roughly 27 tonnes were physically transported and about 59 tonnes were sold in New York and bought simultaneously in London.
- The transfer changed custody shares so London now holds 32.1% of Dutch gold, the Netherlands (Zeist) holds 30.8%, and New York and Ottawa each hold 18.5% of the 612.4 tonnes total.
- DNB Governor Olaf Sleijpen said the bank acted to improve tradability and crisis preparedness because gold stored in London can be deployed or lent more quickly than bullion held in New York or Ottawa.
- Analysts say the move highlights a wider trend of European central banks reshaping gold custody for liquidity and sanctions risk, and they caution that similar shifts by other banks could have wider market and geopolitical effects.