Why are European countries moving their gold out of North America?

The Dutch central bank transferred 86 tonnes of gold from the United States and Canada to the Bank of England’s London vaults, citing the need for rapid access in severe crises and heightened geopolitical unrest. Similar moves by France and Germany, which have shifted hundreds of tonnes back to domestic or nearby locations, reflect a broader trend of European central banks diversifying storage to improve liquidity, resilience, and asset-management efficiency.