The Dutch central bank has moved roughly $11.6 billion worth of gold (1) out of the United States and Canada as "increasing geopolitical unrest" pushes another European country to strengthen its "crisis preparedness."

Data: World Gold Council; Chart: Emily Peck/Axios The Dutch central bank said this week that it was shifting about 86 tonnes of gold bars out of New York and Canada and moving them closer to home. Why it matters: Countries are rethinking where they stash their gold reserves,

The Netherlands and France have shifted gold reserves as geopolitical tensions put new focus on where Europe keeps its bullion.

DNB has not described the move as politically motivated. Instead, it has repeatedly framed it as risk diversification and crisis planning.

The Netherlands has $83.7bn worth of gold in domestic and foreign reserves.

De Nederlandsche Bank just quietly reshuffled billions in gold away from North American vaults, citing crisis readiness rather than any specific threat. The mechanics of how most of it actually moved will surprise you.

The Netherlands said it had reduced the share of its gold reserves held in North America from 51% to 37% in response to "increasing geolpolitical risk."