De Nederlandsche Bank relocated 86 tons of gold from New York and Ottawa to London in September 2026, representing approximately 14% of its total reserves of 612 tons. This move aims to enhance liquidity and crisis preparedness. The Bank of England, which held around 9,534 tons of gold as of July 2026, serves as the world’s dominant hub for physical gold trading. This proactive rebalancing follows a diversification philosophy dating back to the post-World War II era, but now shifts the weight toward locations offering immediate liquidity rather than theoretical diversification.
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