Why are European countries moving their gold out of North America?
Meanwhile, Germany's Bundesbank transferred more than 216 tonnes of the metal from storage locations abroad - 111 tonnes from New York and 105 tonnes from Paris - over a few years ending in 2016.It is a strategy which has played out before in times of global instability. If you want to be able to buy or sell gold fast in a crisis, London is the place to be, which makes the Bank of England a popular storage spot.Getty ImagesThe Bank of England in London holds a lot of gold bars in its vaultsThe Bank is one of the largest custodians of gold in the world. The Dutch sold about 59 tonnes in New York and then bought more stocks in London, meaning that amount didn't need to be hauled across the Atlantic.
- ▪Meanwhile, Germany's Bundesbank transferred more than 216 tonnes of the metal from storage locations abroad - 111 tonnes from New York and 105 tonnes from Paris - over a few years ending in 2016.It is a strategy which has played out before
- ▪If you want to be able to buy or sell gold fast in a crisis, London is the place to be, which makes the Bank of England a popular storage spot.Getty ImagesThe Bank of England in London holds a lot of gold bars in its vaultsThe Bank is one o
- ▪The Dutch sold about 59 tonnes in New York and then bought more stocks in London, meaning that amount didn't need to be hauled across the Atlantic.
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| Original publisher | Bbc |
| Canonical URL | https://www.bbc.com/news/articles/cvgyn8q8gqxo |
| Publication time | Sat, 05 Sep 2026 05:52:09 +0000 |
| Retrieval time | 2026-09-05T07:00:22.151Z |
| Last seen | 2026-09-05T07:00:22.151Z |
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Why are European countries moving their gold out of North America?5 hours agoShareSaveAdd as preferred on GoogleMichael RaceBusiness reporter, New YorkGetty ImagesWhen the central bank of the Netherlands confirmed this week that it had moved tonnes of the country's gold out of North America, it said the relocation would make it "better prepared for severe crises".Some 86 tonnes from the combined total of about 313 tonnes held in the US and Canada were relocated to London "in view of increasing geopolitical unrest", it said, so the shiny stuff could be "readily available for use in a crisis situation".Questions were bound to follow.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Bbc.
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