Dutch central bank moves gold bars out of U.S. and Canada, citing 'crisis preparedness'

The Dutch central bank (DNB) has transferred about 86 tons of gold from New York and Ottawa to London, aiming to improve “crisis preparedness” amid rising geopolitical risks. According to DNB, just over one-quarter of its gold reserves held in New York and Ottawa were moved between March and August and are now stored with the Bank of England. The central bank said the bullion there is more readily tradable and meets international trade standards, allowing it to be deployed faster in a severe crisis. DNB Governor Olaf Sleijpen said the shift improves tradability, even though the bank expects it will “never need to use” the reserves. Gold is up nearly 25% over 12 months to $4,429.61 an ounce.