Source: Fortune.com
Summary
The Dutch central bank moved gold from New York and Canada to London, citing geopolitical unrest and the need for better crisis preparedness. The New York Fed has long held gold for the U.S. and other countries, but holdings have declined since the 1970s. France removed all its gold from the New York Fed between 2025 and 2026. Other countries, including Germany and Austria, have also moved gold in recent years. The World Gold Council noted that central banks are now focusing on custody risk, accessibility, and liquidity when managing gold reserves.
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The numbers tell one story.
The Dutch central bank moved gold from New York to London, citing crisis preparedness.
France removed all its gold from the New York Fed in 2025–2026.
Germany and Austria have also moved gold in recent years.
Central banks are now prioritizing accessibility and liquidity over just security.
Author: Evan Null
Gold Moves as Geopolitical Tensions Rise
The movement of gold by central banks is not a new phenomenon, but the current wave reflects growing concerns over geopolitical stability. Countries like the Netherlands and France are taking steps to ensure their gold reserves are more accessible in times of crisis. This trend is part of a broader shift in how central banks manage their reserves, with a focus on both security and practicality.
Historical Context of Gold Reserves
Gold has been a key component of central bank reserves for decades. After World War II, much of it was stored in the U.S., particularly at the New York Fed. However, over the years, the amount has decreased, and countries have started to repatriate their gold. This has been especially true in the 21st century, as global tensions have increased.
Why Central Banks Are Moving Gold
Central banks are moving gold for a variety of reasons, including geopolitical instability, access during a crisis, and exposure to foreign financial systems. The World Gold Council highlighted that the current wave of gold movements is more complex than previous ones, with central banks now considering custody risk, accessibility, and market liquidity.
Germany and Italy’s Concerns
Germany and Italy, two of the world’s largest holders of gold, have expressed concerns about their reserves being held in the U.S. These concerns are partly driven by political tensions, including past threats from U.S. leaders. Despite these concerns, Germany’s central bank has dismissed fears of its gold being vulnerable in New York.
The Future of Gold Reserves
As central banks continue to move gold, the focus is shifting toward a more diversified approach. Some are increasing domestic storage, while others are spreading their reserves across multiple locations. This reflects a broader strategy to ensure that gold remains both secure and accessible in an uncertain global environment.
