FX.co ★ Dutch Central bank adjusts gold reserves allocation policy

The Dutch central bank, De Nederlandsche Bank (DNB), has repatriated in utmost secret 122.5 tons of gold from the Federal Reserve Bank of New York (FRBNY) to its vaults in Amsterdam. A press release reads the regulator has adjusted its allocation policy for its gold reserves with the aim of achieving a more balanced distribution of gold over various locations and gaining the population confidence. In the old situation, 11% of the gold reserves were located in the Netherlands, 51% in the US, with the rest of it in Canada (20%) and the UK (18%). According to the revised policy, the central bank’s gold reserves will increase to 31%, 31% will be kept in New York, while the percentages for Ottawa and London remain unchanged.
In 2013, the value of gold assets of the Dutch central bank plummeted due to falling prices of the precious metal. So, the value came in at $17 billion in late 2013.