Economic Watch: European gold shifts spotlight concerns over U.S. financial credibility

BELGRADE, Sept. 8 (Xinhua) -- Moves by several European countries to relocate gold reserves held in the United States have drawn attention to growing concerns over reserve security and geopolitical risks, as central banks worldwide reassess the balance between gold and the U.S. dollar.

The Dutch central bank said on Sept. 2 that it had transferred about 86 tons of gold from New York and Ottawa to London between March and August this year. Following the move, the share of the Netherlands' gold reserves held in New York fell from 31.3 percent to 18.5 percent, while the share held in London rose from 18.1 percent to 32.1 percent.