De Nederlandsche Bank said it moved 86 tonnes of its gold reserves out of the United States and Canada to London between March and August, citing "increasing geopolitical unrest" and a need to improve crisis readiness. The bank said reserves held in London are more easily traded and therefore quicker to deploy in a crisis. The Netherlands' total gold stock stood at 612.4 tonnes, valued at €72.2bn at the end of 2025. Before the operation, 31.3% of Dutch gold was held in New York and 19.7% in Ottawa; after the move each of those locations holds 18.5% and London’s share rose from 18.1% to 32.1%, while holdings in the Netherlands remained 30.8%. DNB president Olaf Sleijpen said the step "improved the deployability of the gold reserves" and that the bank assumes it will never need to deploy the gold but must strengthen resilience and preparedness. The transfer combined buying and selling with physical transfers; more than 27 tonnes of physical gold were moved from the US and Canada to Zeist and an equivalent amount sent from Zeist to London to reduce risks from moving large quantities. Paris-based National Gold Counter president Laurent Schwartz and analyst John Plassard said central banks have been reshuffling reserves for years and that London’s deeper, more liquid market makes gold easier to deploy, though Plassard warned wider follow-on moves could harm confidence in US custody.