Dutch central bank moves gold bars out of U.S. and Canada, citing ‘crisis preparedness’
DNB said gold stored with the Bank of England is more readily tradable, allowing it to be deployed more quickly in a severe crisis.
TL;DR
- DNB moved about 86 metric tons of gold reserves from the U.S. and Canada to the U.K.
- The relocation was done to strengthen contingency planning amid geopolitical unrest.
- Gold stored with the Bank of England is considered the world's most easily tradable.
- The move improves DNB's crisis preparedness and the tradability of its gold reserves.
- This action follows a similar move by the French central bank.