Gold price

The Netherlands has moved 86 tons of gold from North America

The Dutch central bank has moved parts of its gold reserve from New York and Ottawa to London. Gold worth 12 billion dollars has been moved. This is reported by Bloomberg.

Between March and August, the central bank sold around 59 tons of gold in New York and bought the same amount in London. In addition, just over 27 tons of gold were moved across the Atlantic. Around a third of the Dutch gold reserve is now in London.

The central bank cites the growing geopolitical unrest in the world as the reason behind the move.

Expert: Logical that Europe moves gold home from the US

The Dutch central bank has moved 86 tons of gold from North America to London, citing increased geopolitical unrest. This is reported by the BBC. The central banks of Germany and France have done the same.

The move is completely logical, according to commodity analyst Christian Kopfer. In a comment to DN, he reminds us that European gold was originally moved across the Atlantic during the world wars.

– Since the wars largely took place in Europe, and never reached American soil, the US was seen as an extremely safe place to store the gold, says Kopfer, adding that he believes that the Swedish Riksbank may follow suit.