Central Banks Rethink Gold Storage As Geopolitical Tensions Intensify. (Representational image)
\n\nCentral banks are taking a fresh look at where they keep their gold as geopolitical tensions, trade disputes and economic uncertainty reshape the way countries manage their reserve assets. The Netherlands became the latest country to adjust its gold-storage strategy after its central bank shifted around 86 tonnes of gold from vaults in the United States and Canada to London. De Nederlandsche Bank (DNB) said the move was intended to make the reserves "better prepared for severe crises".
\n\nThe tonnes were moved between March and August this year, with the Dutch central bank saying the relocation took place "in view of increasing geopolitical unrest". The gold is now stored at the Bank of England, where it can be accessed more readily if required.
\n\nThe move has inevitably raised questions over whether central banks expect a major financial or economic shock. However, officials and market experts suggest the decision is more about improving preparedness than predicting an imminent crisis.
\n\nThe Netherlands is not alone in reconsidering overseas gold storage.
\n\nFrance earlier this year announced that it had brought its gold reserves back from the United States. Germany has also previously…
Original source: https://www.timesnownews.com/business-economy
