Dutch Central Bank Moves Gold Reserves From North America To London

According to the BBC, De Nederlandsche Bank said it moved 86 tonnes of gold from the US and Canada to London between March and August this year, citing increasing geopolitical unrest and the need to be better prepared for severe crises. The Dutch central bank said the metal is now held in the Bank of England’s vaults, while some 27 tonnes were physically transferred to the Dutch town of Zeist and a similar amount was sent from Zeist to London. The report said the move came as central banks have been buying more gold, with the World Gold Council saying they accumulated an annual average of 1,000 tonnes over the past four years, up from 500 tonnes in the previous decade. Goldman Sachs researchers Lina Thomas and Daan Struyven said reserve managers are increasingly focused on where to store gold, while the bank’s analysts forecast the price will rise to $4,900 per troy ounce by the end of 2026.