The Netherlands has moved approximately 86 tons of its gold reserves, nearly a quarter of its holdings, from the United States and Canada to London between March and August. The Nederlandsche Bank (DNB) stated this relocation aims to improve preparedness for severe crises, citing London as a key trading center for physical gold. DNB believes gold is more readily sellable in London during a crisis than in New York or Ottawa. A significant portion, 59 tons, was sold and repurchased in London, avoiding the need for costly and quality-reducing re-melting. An additional 27 tons were physically moved to Zeist, within the Netherlands. This move comes amid growing DNB concerns regarding deteriorating relations between Europe and the U.S., particularly since the return of President Trump, and potential disruptions to payment systems. While previously downplaying the risk of the US seizing the gold, DNB has consistently advocated for reduced financial dependence on the United States.