When a central bank begins preparing for a crisis, it’s worth paying attention to what it does.
The Dutch central bank, De Nederlandsche Bank (DNB), has just moved around 86 tonnes of gold from New York and Ottawa to London.
Why?
DNB specifically cited increasing geopolitical unrest and the need to strengthen its crisis preparedness.
And the asset it wants to be able to access more easily in case of a crisis is gold.
Why move gold to London?
The Netherlands already held a significant amount of gold in its reserves across Amsterdam, New York and Ottawa.
But between March and August 2026, DNB moved around 86 tonnes from its North American holdings into London.
The reason is important.
London is one of the world’s most important trading centres for gold. By holding more of its reserves there, DNB says its gold becomes easier to trade and more readily available if it needs to be used during a severe crisis.
In other words:
When preparing for a crisis, the Dutch central bank wants its gold somewhere it can access it quickly.
That tells you something about the role gold plays in the modern financial system.
Central banks haven’t moved on from gold
We live in a world of digital finance where trillions of dollars move around the globe at the click of a button every day.
Yet in recent years, central banks have been buying physical gold in record amounts. In fact, in 2025 alone, central banks purchased a net 863 tonnes of gold.
What’s more, the momentum seems to be picking up.
In a recent survey of central-bank managers by the World Gold Council, 89% expected global central-bank gold holdings to increase over the following 12 months, while a record 45% expected their own institution to increase its gold reserves.
Central banks have added so much gold to their reserves that for the first time since 1996, the value of gold held by central banks is higher by value than their US Treasury holdings.
This is strong confirmation of how important gold’s role is in the global financial system.
So why gold?
Central banks are buying gold because of what distinguishes it from other reserve assets.
A government bond is ultimately someone else’s promise to pay. A currency depends on the monetary policy and credibility of the country that issues it. Equities depend on the success of the company.
Gold is different.
Gold isn’t issued by a government. It can’t be printed out of thin air. Its supply is naturally limited. And owning physical gold doesn’t depend on another government or company honouring a promise to repay you.
These characteristics make gold an important asset to hold during times of turbulence and uncertainty like the one we’re going through now.
Geopolitical tensions are increasing.
Government debt is growing.
Inflation is above target and getting worse.
Sanctions have shown the world that financial reserves held overseas can become part of geopolitical disputes.
Not only that, but conflict can disrupt everything from global trade to energy prices.
Amidst this backdrop, gold offers something valuable: diversification away from the financial system itself.
Why is demand for gold growing?
Gold has been used as a store of value for thousands of years.
During periods of economic, monetary and geopolitical uncertainty, the demand for gold increases because unlike other assets and investments, gold is a globally-recognised, neutral asset with a limited supply.
That’s why gold is commonly described as the ultimate safe-haven asset.
And under the Basel III framework, gold is officially recognised as high quality collateral within the banking system – a reminder of how deeply embedded gold is within the global financial system.
DNB’s latest move shows that when inflation is rampant, currency debasement is unavoidable, and geopolitical uncertainty is the default, gold provides stability in a way that other assets can’t.
Should ordinary people build gold reserves too?
Your household isn’t a central bank, but there is a principle worth thinking about.
Central banks don’t necessarily choose between holding currency or gold.
They hold both.
Gold gives them another type of reserve, one with different properties from holding pounds in a bank account.
Historically, owning physical gold has come with drawbacks, like finding a dealer, arranging secure storage and insurance.
What’s more, buying things means selling your gold first.
Until now, this hassle has put downward pressure on the demand for gold. However, in the digital age, owning gold is as simple as using an everyday account.
This is why TallyMoney exists
TallyMoney is an everyday account that lets regular people build their own gold reserves without giving up the conveniences of modern money.
With a TallyMoney Account, the money you add is exchanged into tally®, representing milligrams of real, physical gold that you own.
But unlike traditionally owning physical gold, you can still use your money every day.
You can manage your account from an app.
Send and receive money.
Spend from your balance using your TallyMoney Debit Mastercard®.
Withdraw cash.
You get instant access to your balance when you need it.
Central banks have been building gold reserves because they value diversification, resilience and an asset that offers a hedge against inflation and geopolitical crises.
TallyMoney means regular people can now do the same.
