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Donald Trump loves gold so much he has made it a symbol of his presidency.
Gold signage stands outside the Oval Office, gilded ornaments sit on its fireplace, and walls and ceilings now feature gold embellishments.
Although the transfer of around 59 tonnes of this was achieved by trading gold in New York for gold in London, more than 27 tonnes were physically moved.
The De Nederlandsche Bank said it was motivated by "increasing geopolitical unrest".
Some countries have been buying more gold in recent years, driving up the volume held by central banks. Between 2018 and 2025, reserves increased by 8.5 per cent.
During the same period, the price of gold has skyrocketed, increasing the market value of these reserves by 268 per cent, according to the International Monetary Fund.
Australia's central bank, the Reserve Bank of Australia, holds 80 tonnes of gold as part of its reserve assets, alongside government bonds from other countries.
While Australia's gold reserves have remained unchanged since 1997, there's been a shift among other central banks such as China, India, Poland and Türkiye, which have started to favour buying gold over US government bonds.
Poland has increased its gold reserves over the last 20 years, building it up from just 14 tonnes in 1996 to more than 630 tonnes by mid-2026.
John Hawkins, a senior lecturer at the University of Canberra, says investors tend to buy gold when they are worried about rising interest rates and government debt, which can leave countries struggling to pay back bonds.