London: (RightNow) The Netherlands has transferred 86 tons of its gold reserves from the US to London. This move aims to strengthen financial stability amid global geopolitical tensions and economic uncertainty.

According to the Dutch Central Bank, the transfer was completed between March and August. The gold is now stored in the secure vaults of the Bank of England. The Netherlands had a total of 313 tons of gold in the US and Canada.

Central bank officials stated that the transfer is not in anticipation of an immediate crisis but to fortify the country against potential future crises.

It is noteworthy that France and Germany have also announced the repatriation of their gold reserves. The Netherlands’ action follows the lead of these countries.

According to the World Gold Council, central banks seek full control over reserves due to trade disputes, wars, and inflation. Over the past four years, 1,000 tons of gold have been purchased annually.