The Dutch central bank said Wednesday it has shifted about 86 tonnes of its gold reserves from New York and Ottawa to London, a move aimed at improving gold transferability and strengthen crisis preparedness.
The relocation was made in two batches, according to a De Nederlandsche Bank (DNB) news release. About 59 tonnes of the gold were relocated by selling in the New York market and buying equivalent bullion in London. More than 27 tonnes were physically transported from the United States and Canada to the central Dutch city of Zeist, with an equal amount of gold meeting international market standards then transferred from Zeist to London, leaving the total size of the Dutch gold reserves unchanged.
According to the DNB, the Netherlands held 612.4 tonnes of gold at the end of 2025, mainly across Zeist, London, New York and Ottawa. After the adjustment, the share stored in Zeist stayed at 30.8 percent, while the portion in New York dropped sharply from 31.3 percent to 18.5 percent and the Ottawa share fell from 19.7 percent to 18.5 percent. London's share rose from 18.1 percent to 32.1 percent.
The gold held with the Bank of England is regarded as the world's most easily tradable gold and will therefore be the most readily available for the DNB in a crisis situation, the Dutch central bank said.
The decision reflects the DNB's growing concern about transatlantic tensions since Donald Trump reclaimed presidency. The central bank previously warned that the U.S. could easily cut off Dutch payment transactions and urged reduced dependence on the U.S.
France has moved in a similar direction. In April, the French central bank announced it had completed the transfer of 129 tonnes of gold that had been stored in New York since the late 1920s. The operation, carried out in 26 stages between July 2025 and January 2026, involved selling the New York holdings at market prices and purchasing equivalent gold in Europe for transport to Paris. All of France's 2,437 tonnes of gold reserves are now held domestically.
Netherlands relocates 86 tonnes of gold reserves from U.S., Canada to UK
American businesses are eager for cheaper imports ahead of the Christmas shopping season, even after pre-stocking led to record cargo volumes at California's busiest ports from July to August amid steeper tariffs on Chinese goods.
Following the recent meeting between Chinese President Xi Jinping and U.S. President Donald Trump, proposed tariff reductions on toys and other consumer goods are offering hope of lower costs for American businesses and shoppers.
However, many U.S. suppliers and shops began stocking up for the holidays well before the reduction was announced. As a result, the Port of Los Angeles, America's busiest container port, saw an unprecedented summer.
More than 2.9 million units were handled at the port in just three months, with cargo ships arriving and cranes unloading around the clock. The historic highs may have been driven in part by uncertainty about future tariffs.
"When tariffs are announced, we see a big rush of cargo, so the products can get here before they're taxed with higher levels, and then afterwards we see a real downturn in the cargo flow because inventory has been built up," said Eugene Seroka, executive director at the Port of Los Angeles.
Last year, 82 billion U.S. dollars' worth of goods passed through the Port of Los Angeles in trade with China alone. Together with Long Beach, it forms America's largest container port complex.
"When you look at our cargo volumes, we are ahead of where we were last year, and last year was a record for us. This year, due largely to the front-loading activity employed by our shippers, we saw Christmas shipments arriving as early as May and June," said Dr. Noel Hacegaba, chief executive officer at Port of Long Beach.
Cargo that arrives at the ports ends up in warehouses across the U.S. With possible tariff relief on Chinese-made toys coming just before the holidays, businesses are watching to see whether lower costs could reach consumers.
Toy wholesaler Claire Martinsen imports all her merchandise from China. Trump's tariffs initially left her fearing for her business.
"We were nervous. We were really scared at that time because the company was growing and we were actively hiring at the same time," said Martinsen.
Her company absorbed much of the added costs, but lower tariffs could bring relief.
"When President Xi and President Trump met, I was ecstatic. I knew something had to happen. Right now, we're averaging at about three to four containers a week. During the holiday seasons, we're expecting about seven to 10 containers a week," she said.
At a Los Angeles toy store, shopper Maria Rodriguez hopes prices will fall.
"It's good for our wallets because we'll be able to stretch our money and buy gifts for everyone," she said.
For families facing rising costs, easing trade tensions could make Christmas a little more affordable.
US businesses eye more holiday season imports after record cargo at California ports
