The Dutch central bank has moved about 86 tonnes of gold from the United States and Canada to the United Kingdom as part of efforts to strengthen its contingency plans amid “increasing geopolitical unrest.”

DNB said on Wednesday that more than a quarter of its gold reserves stored in New York and Ottawa had been transferred to London between March and August.

The gold is now held at the Bank of England, where bullion must meet international trading standards and is considered among the world’s most easily tradable gold.

According to DNB, the relocation will enhance its preparedness to respond to potential crises.

By contrast, DNB said gold stored in the United States and Canada could not be accessed or deployed as quickly and directly in the event of a crisis.

“With this relocation, we have improved the tradability of our gold reserves. We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness,” DNB Governor Olaf Sleijpen said in a statement.

The transfer comes as gold prices continue to surge to record levels, amid persistent geopolitical tensions between the United States and Iran over the strategically important Strait of Hormuz, with a comprehensive settlement between the two sides still uncertain.

Gold, widely regarded as a safe-haven asset during periods of financial and economic uncertainty, has risen nearly 25 per cent over the past year.

The precious metal was trading at $4,429.61 per ounce, up almost 1 per cent during the session.