2 minutes ago, wensiensheng said:

The whole process has been underway for months and has now been completed. Was it ever cited as a reason for currency movements over that period?

My understanding is that it only came to light now. It wasn't common knowlledge during the transfer process - which makes sense. Still one of BBC's headlines 12 hours later. So we don't know the impact for a few days. Will other banks follow? If so, why wouldn't that add to currency uncertainty?

1 hour ago, wombat said:

Curious has to ask, why didn't they just move it back to Holland?... do they know something about what's gonna happen to Holland that we don't?

Because there already is a large chunk in the Netherlands. They're spreading risk.

1 hour ago, Eric Loh said:

DNB pulling their gold reserves followed France recent withdrawal of their gold reserves from US. Likely Germany and Italy who have sizeable gold reserves in US will do likewise. In this troubled economic times, the gold will be a good hedging toll against inflation and currency fluctuation. However the bigger picture, these withdrawals from US is highly symbolic indication of the declining global trust in US financial institutions.

The Dutch central bank moved a small percentage of its gold reserves. It did not remove them all as your comment implies. The exact numbers are quoted in the article.

I also do not understand why you reference a declining trust in US institutions. Do you think this gold is stored at publicly owned banks? It will have held at the Federal Reserve facility in Manhattan. Publicly owned institutions such as Chase, Citigroup etc will have had no involvement.

1 hour ago, impulse said:

Why do you figure they pulled their gold out of Ottawa if it was about US politics?

As I recall, the UK seriously failed the Dutch the last time. That gold is a lot safer 5000 miles away from, for example, Ukraine and Russia.

US politics. Unless you have missed trump's threats?

Made it available to Russians 😂🤣

...No 'Geopolitical Unrest' In The U.K. Then... (?)

...Hope They Don't ... 'Lose Track Of' ... Those 86 Metric Tons... (?)

Eighty-six metric tons of gold is worth approximately $10.7 billion to $10.9 billion (or about €10.1 billion to €10.3 billion) based on recent central bank valuations*

1 hour ago, SiSePuede419 said:

1. The Dutch were hiding it from the Germans they're known to have sticky fingers

2. London? According to the Trumplanders it's too expensive because everyone from Pakistan wants to live there and every woman on the street gets raped. Good luck with that 👍

3. I hope Trump got a DEAL some nice tulips in exchange for his gold for the White House lawn. Some people like getting into pink tulips but I prefer getting into the light chocolate almost purple ones. 😆

It's not his gold.

9 minutes ago, ronnie50 said:

My understanding is that it only came to light now. It wasn't common knowlledge during the transfer process - which makes sense. Still one of BBC's headlines 12 hours later. So we don't know the impact for a few days. Will other banks follow? If so, why wouldn't that add to currency uncertainty?

Other central banks may well be considering a similar move. They are subject to the same state of geo political circumstances as the Dutch and may reach a similar conclusion, or not.

As to why wouldn’t it add to currency uncertainty, I think that there are two parts to that.

Firstly do the mechanics of this move result in any particular changes to demand and supply for any particular currency? It seems the answer is no. Some gold was physically moved. That doesn’t affect the demand and supply of anything. Some gold was sold in New York and replaced by a matching transaction in London. Both sides will have been priced in USD because gold markets are traded in USD regardless of location. So no mechanical impact on currencies.

Secondly, what about sentiment. Does the move indicate that the Dutch think the USA is in imminent danger of collapse, or that their gold might be seized, or confiscated or some other form of appropriation? Well, what many posters on here seem to have missed is that only a very small percentage of total gold holdings was moved. So this was a reweighting exercise, not a total retreat from North America. So why would currency markets react to a relatively small reweighting exercise as though it’s some kind of disaster?

Symbolically it’s hardly a vote of confidence in North America, but the Dutch central bank still maintains 18% of its gold holdings in USA and Canada. So that’s 36% overall. Quite a lot of money.

It’s true that this news has only just hit the mainstream news, at least as far as I know. But the shipping of the gold and the gold transactions have been going on for months. I didn’t know they were happening, but I’d bet that there are plenty of London commodity and currency traders who did know.

So overall, I personally am not seeing any spill over into currency markets. Cue the headline “ USD crashes because Dutch central bank moved nearly 2% of its gold reserves from New York to London”. But imho, that headline is unlikely to appear.

That’s not to say that others aren’t considering doing the same, or that the Dutch won’t gradually do more. There ARE very obvious reasons to state that the economic and political situation in USA is causing distrust and uncertainty within North America, as it is for pretty much the rest of the world.

Did President Trump make good his promise last year -"We're going to open up the doors, we're going to inspect Fort Knox," ? In response to rumours that the gold is missing.

27 minutes ago, stevenl said:

US politics. Unless you have missed trump's threats?

Sounds to me more like the Dutch have (or anticipate) a liquidity problem.

From the OP: DNB president Olaf Sleijpen said the move was necessary to “strengthen our resilience and preparedness”. In its statement, the central bank said gold held with the Bank of England is regarded as the world’s most easily tradable, making it more readily available in a crisis than if it remained in the US or Canada.

Can't blame them. At current prices, geopolitical risk, less chance of Soviet invasion, economic needs, lost trust in the USA.

Risk of Trump wanting to make a few Gold Statues of himself for the White House Lawn, Gold Plating Air Force One or "The Beast" as a show of wealth probably crossed their mind.

France earlier this year removed the last of it's gold from the U S A

amounting to 129 metric tonnes ...who's next ?

regards worgeordie

32 minutes ago, wensiensheng said:

The Dutch central bank moved a small percentage of its gold reserves. It did not remove them all as your comment implies. The exact numbers are quoted in the article.

I also do not understand why you reference a declining trust in US institutions. Do you think this gold is stored at publicly owned banks? It will have held at the Federal Reserve facility in Manhattan. Publicly owned institutions such as Chase, Citigroup etc will have had no involvement.

86 tonnes are a significant amount of their gold reserves withdrawn and FED is a financial institution.

13 minutes ago, wensiensheng said:

Other central banks may well be considering a similar move. They are subject to the same state of geo political circumstances as the Dutch and may reach a similar conclusion, or not.

As to why wouldn’t it add to currency uncertainty, I think that there are two parts to that.

Firstly do the mechanics of this move result in any particular changes to demand and supply for any particular currency? It seems the answer is no. Some gold was physically moved. That doesn’t affect the demand and supply of anything. Some gold was sold in New York and replaced by a matching transaction in London. Both sides will have been priced in USD because gold markets are traded in USD regardless of location. So no mechanical impact on currencies.

Secondly, what about sentiment. Does the move indicate that the Dutch think the USA is in imminent danger of collapse, or that their gold might be seized, or confiscated or some other form of appropriation? Well, what many posters on here seem to have missed is that only a very small percentage of total gold holdings was moved. So this was a reweighting exercise, not a total retreat from North America. So why would currency markets react to a relatively small reweighting exercise as though it’s some kind of disaster?

Symbolically it’s hardly a vote of confidence in North America, but the Dutch central bank still maintains 18% of its gold holdings in USA and Canada. So that’s 36% overall. Quite a lot of money.

It’s true that this news has only just hit the mainstream news, at least as far as I know. But the shipping of the gold and the gold transactions have been going on for months. I didn’t know they were happening, but I’d bet that there are plenty of London commodity and currency traders who did know.

So overall, I personally am not seeing any spill over into currency markets. Cue the headline “ USD crashes because Dutch central bank moved nearly 2% of its gold reserves from New York to London”. But imho, that headline is unlikely to appear.

That’s not to say that others aren’t considering doing the same, or that the Dutch won’t gradually do more. There ARE very obvious reasons to state that the economic and political situation in USA is causing distrust and uncertainty within North America, as it is for pretty much the rest of the world.

Others have already repatriated significant amounts of gold.

https://www.ft.com/content/c7164737-2988-4f1c-aba4-244bda4844c7?syn-25a6b1a6=1

1 minute ago, Eric Loh said:

86 tonnes are a significant amount of their gold reserves withdrawn and FED is a financial institution.

Right, the Fed is not a bullion bank.

4 minutes ago, Eric Loh said:

86 tonnes are a significant amount of their gold reserves withdrawn and FED is a financial institution.

86 tonnes of gold represents about one percent of the United States's gold reserve.

But of course, you knew that, yes?

1 hour ago, wavodavo said:

Don.y worry everybody King charles will look after the gold and you can be assured that he won't give the keys of the vault to Harry and his dragonlady .

Anything to back up your claim that the king has keys to the Bank of England gold vaults? Or is it just your warped sense of reality?

2 hours ago, wavodavo said:

Don.y worry everybody King charles will look after the gold and you can be assured that he won't give the keys of the vault to Harry and his dragonlady .

As I understand it, the gold has been moved to facilitate trade, so it won't be there long.

Zelensky needs more of it for his new toilet, and the British are happy to help.

1 hour ago, Eric Loh said:

86 tonnes are a significant amount of their gold reserves withdrawn and FED is a financial institution.

About 12% I believe. Based on the figures in the article. Not chicken feed for sure at least in monetary terms. I think it’s not insignificant, maybe not significant though. Most came from New York of course, so maybe the Canada pice was simply to provide some cover so as to not appear to be singling out USA.

Yes, the Fed is an institution, that’s why I specifically asked if the poster was referring to publicly owned institutions. The post inferred that, but I couldn’t be sure.

1 hour ago, nauseus said:

Others have already repatriated significant amounts of gold.

https://www.ft.com/content/c7164737-2988-4f1c-aba4-244bda4844c7?syn-25a6b1a6=1

It’s a trend for sure. And the reasons aren’t hard to guess.

I’m not seeing it as having a significant effect on currency markets, which was the issue I was addressing. At least, I haven’t seen it quoted as having done so.

30 minutes ago, Yellowtail said:

As I understand it, the gold has been moved to facilitate trade, so it won't be there long.

Maybe it has something to do with this:

Yet political deadlock now grips the nation; its once globalist outlook has turned inward and unless fresh leadership emerges, the country faces stagnation and further decline.

The Netherlands: Economic decline and waning influence

https://ecaef.org/

Or these:

The pace of economic renewal in the Netherlands has slowed, according to a new report from the Centraal Planbureau (CPB), the government’s main economic advisory agency. The analysis shows that underperforming companies are being replaced less frequently by innovative, high-performing firms, weakening the engine of Dutch growth.

Dutch economic growth slows as weak companies stay in the market, economists warn | NL Times

The Dutch gross domestic product (GDP) rose by 0.4 percent in the second quarter of 2026 compared to the previous quarter, Statistics Netherlands (CBS) reported based on preliminary calculations. Despite global unrest, such as wars disrupting transport routes, the Dutch economy continues to show slow but steady growth. Compared to the second quarter of 2025, the economy grew by 1.3 percent.

Dutch economy still trudging along despite global unrest; 0.4% growth in Q2 | NL Times

https://nltimes.nl/

I suspect they need some more liquid money to support their newcomers, but that may just be my cynicism.

There's also a bunch of YouTubes painting an even bleaker picture, but I'll let posters look for those "unapproved sources". To watch them you'd think that Dutch guy is going to remove his finger from the dyke. I mean, the dike...

6 minutes ago, wensiensheng said:

It’s a trend for sure. And the reasons aren’t hard to guess.be

I’m not seeing it as having a significant effect on currency markets, which was the issue I was addressing. At least, I haven’t seen it quoted as having done so.

Not from where I sit, the dollar seems to be plummeting against the Euro

It's a general trend. Gold is now one of the main US exports, despite the low domestic production.

In 2025, U.S. gold exports nearly tripled to $80.6 billion (from $29.7 billion in 2024). In early 2026, gold became America’s #1 export, with $17.88 billion shipped in February alone.Destinations: Switzerland (56%) and UK (24%), both key bullion hubs.

https://www.mappr.co/us-gold-exports

Recent trade data reveals that the 6.2% growth in total American exports for 2025 was not driven by factory goods or agricultural surplus, but by the physical relocation of metal.

As of the first quarter of 2026, gold, silver, and platinum shipments have surged to account for nearly 15% of all U.S. goods exported, a massive jump from the historical average of just 4%.

https://goldpricetoday.co.in/precious-metals-become-americas-largest-export-as-gold-and-silver-shipments-surge-in-2026

33 minutes ago, pub2022 said:

Zelensky needs more of it for his new toilet, and the British are happy to help.

Says the troll for Russia! 😂

16 minutes ago, candide said:

It's a general trend. Gold is now one of the main US exports, despite the low domestic production.

In 2025, U.S. gold exports nearly tripled to $80.6 billion (from $29.7 billion in 2024). In early 2026, gold became America’s #1 export, with $17.88 billion shipped in February alone.Destinations: Switzerland (56%) and UK (24%), both key bullion hubs.

https://www.mappr.co/us-gold-exports

Recent trade data reveals that the 6.2% growth in total American exports for 2025 was not driven by factory goods or agricultural surplus, but by the physical relocation of metal.

As of the first quarter of 2026, gold, silver, and platinum shipments have surged to account for nearly 15% of all U.S. goods exported, a massive jump from the historical average of just 4%.

https://goldpricetoday.co.in/precious-metals-become-americas-largest-export-as-gold-and-silver-shipments-surge-in-2026

American gold? Nope.

4 hours ago, wombat said:

Curious has to ask, why didn't they just move it back to Holland?... do they know something about what's gonna happen to Holland that we don't?

London is a much better location for trading and mobilizing institutional gold. That's why.

Time for Germany to do the same. Recall the gold!

5 hours ago, BerndD said:

I hope and I am sure other countries will follow suit.
Who wants to entrust their gold reserves to a now dubious state like the USA?

One more American “hater”.

4 minutes ago, pacovl46 said:

Time for Germany to do the same. Recall the gold!

That would be in favor of Putin. 😂