The Dutch central bank, known as the DNB, has confirmed that it moved 86 tonnes of gold from North America to London, citing "increasing geopolitical unrest" as the reason. This transfer, which occurred between March and August, involved moving 27 tonnes of gold bars from New York and Ottawa to Zeist in the Netherlands. A similar amount was then relocated to London, without melting the gold bars. The exact method used to transport such a large quantity of gold across the Atlantic has not been disclosed. The DNB explained that part of the transfer was accomplished by selling gold in New York and repurchasing it in London, which helped spread the risks involved in moving gold physically. "Combining the processes of buying and selling and physical transport has allowed DNB to spread the risks associated with such a complex physical gold relocation," the statement said. DNB President Olaf Sleijpen described the move as "necessary to strengthen our resilience and preparedness." This decision comes amid ongoing trade tensions between the United States and Canada, where both countries have imposed new tariffs on each other following failed trade negotiations. While the DNB did not specify what it meant by "geopolitical unrest," the U.S. economy has been under pressure due to its ongoing conflict with Iran, which has disrupted global trade. Meanwhile, Canada has faced significant economic challenges from U.S. tariffs on key industries, including steel, aluminum, lumber, and automobiles. In August, the U.S. also imposed an additional 50% tax on about C$28 billion worth of Canadian goods, further straining the economy. The DNB stated that gold held by the Bank of England is considered the world's most easily tradable gold, making it more accessible during a crisis compared to gold stored in the U.S. or Canada. Before the recent announcement, the DNB held 31.3% of its gold in New York and 19.7% in Ottawa. Following the move, these percentages have both dropped to 18.5%. As of the end of 2025, the total Dutch gold stock was 612.4 tonnes, valued at €72.2 billion. The DNB's share of gold in London has increased from 18.1% to 32.1% after the relocation, while it still holds 30.8% of its reserves in the Netherlands.