Dutch central bank moves gold bars out of U.S. and Canada, citing ‘crisis preparedness’

Gold bars lie in a safe on a table at the precious metal dealer Pro Aurum. Sven Hoppe | Picture Alliance | Getty ImagesThe Dutch central bank (DNB) has transferred approximately 86 tons of gold out of the U.S. and Canada to the U.K., seeking to shore up its contingency planning in view of "increasing geopolitical unrest."Just over one-quarter of the central bank's gold reserves held in New York and Ottawa had been shifted to London between March and August, DNB said Wednesday.The transferred gold is now stored with the Bank of England because gold stored there must meet international trade standards and is recognized as "the world's most easily tradable gold," DNB said, adding that the move strengthens its "crisis preparedness."By contrast, DNB said the gold bars held in the U.S. and Canada could not be utilized as quickly and directly in a crisis situation. "With this relocation, we have improved the tradability of our gold reserves. We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness," DNB Governor Olaf Sleijpen said in a statement. The move comes amid a blockbuster rally in gold prices and continued U.S.-Iran geopolitical t...