A little more detail….
View: https://x.com/silvertrade/status/2095247894203048220?s=61
The Netherlands "REPATRIATES" 86 Metric Tons of Gold Reserves From the US
PAPER GOLD 86'd
De Nederlandsche Bank's Gold Reserves Held at the NY Fed & in Ottawa SOLD, Equivalent Repurchased in Europe
The Netherlands just quietly pulled a large piece of its gold out of North America.
De Nederlandsche Bank says it shifted 86 tonnes from the United States and Canada toward London between March and August 2026.
Officials framed it as crisis preparedness in a time of geopolitical unrest.
️For silver and gold holders, the method of the move matters as much as the destination.
DNB President Olaf Sleijpen said the bank assumes it will never need to deploy the metal, but still needed to strengthen resilience and preparedness.
Gold in London, he and the bank argued, can be sold faster in a crunch than gold sitting in New York or Ottawa. London is now the largest single storage site for Dutch reserves at 32.1 percent.
The Netherlands itself holds 30.8 percent. New York and Ottawa each dropped to 18.5 percent.
Total Dutch gold remains 612.4 tonnes, worth 72.2 billion euros at the end of 2025.
Dutch gold dealer Johan de Ruiter had already said the metal was no longer safe in America and that Washington could refuse to send it home, add tariffs, or stall for decades.
The Daily Mail put that warning next to the official announcement. DNB’s own language was cooler. The implication was the same.
Custody in New York is no longer treated as risk free.
How 86 tonnes actually left
This was not one armored convoy across the Atlantic. DNB mixed paper and physical. About 59 tonnes were sold in New York and replaced with gold bought in London that meets modern London trade standards.
More than 27 tonnes of bars moved physically from the United States and Canada to the Dutch vault at Zeist. The same quantity then went from Zeist to London. That swap kept bars from being melted and recast. That sale and buyback is the detail precious metals investors should not skip.
Why the New York sale raises the rehypothecation question:
Continues at SilverTrade:
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