The Dutch central bank (DNB) has transferred approximately 86 metric tons of gold out of the U.S. and Canada to the U.K., seeking to shore up its contingency planning in view of “increasing geopolitical unrest.”

Just over one-quarter of the central bank’s gold reserves held in New York and Ottawa had been shifted to London between March and August, DNB said Wednesday.

The transferred gold is now stored with the Bank of England because gold stored there must meet international trade standards and is recognized as “the world’s most easily tradable gold,” DNB said, adding that the move strengthens its “crisis preparedness.”

By contrast, DNB said the gold bars held in the U.S. and Canada could not be utilized as quickly and directly in a crisis situation.

“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 move comes amid a blockbuster rally in gold prices and continued U.S.-Iran geopolitical tensions over the strategically vital Strait of Hormuz, with a comprehensive settlement agreement far from certain.

The price of gold, which is typically considered a safe-haven asset at times of financial uncertainty, has jumped nearly 25% over the past 12 months. The yellow metal is currently trading at $4,429.61 per ounce, up nearly 1% for the session.

The move from the Dutch central bank comes after the French central bank replaced 129 metric tons of gold held at the New York Federal Reserve between July 2025 and January 2026.

Bank of France Governor Francois Villeroy de Galhau said at the time that the move was not politically motivated.

In light of the latest transfer, DNB said the geographical spread of its gold reserves was “more balanced,” with London now holding 32.1%, the central bank’s cash center in Zeist in the Netherlands holding 30.8% and New York and Ottawa holding 18.5%, respectively.

Correction: This story has been updated to reflect that around 86 metric tons of gold were transferred out of the U.S. and Canada to the U.K.

Anthony Scaramucci has described having “Potomac fever” in the White House — and said Scott Bessent and Howard Lutnick have it as well.

Scaramucci, a veteran Goldman Sachs banker and founder of SkyBridge Capital, served as White House communications director for 11 days during Donald Trump’s first term. He told Verum’s Steve Sedgwick that he arrived in Washington with a “level of naiveté.”

“I did not have my [ego] in check, and I had something that I call Potomac fever,” Scaramucci said in an episode of Verum’s “Executive Decisions,” released Tuesday.

“Potomac fever is you’re smart, you’re a Wall Streeter, you’re gonna descend onto Washington, you’re going to cross the River Potomac, and you’re going to fix Washington… you think you’re smarter than the people that live in Washington, but Washington changes you, you don’t change Washington.”

“One of the great symptoms of Potomac fever is you don’t know you have it. Bessent has it. Lutnick has it. You’re tying your ego to the motorcade, the insider thing. I’m on the inside with the Secret Service protection. You’re not, and it is an aphrodisiac. It is a seductive force if you’re not careful,” he said.

Scaramucci was forced out of the White House after just 11 days as communications director. His brief tenure included a profanity‑laden conversation with a journalist from The New Yorker, who later published his remarks. The brevity made him a figure of mockery.

When asked about Scaramucci’s time at the White House and Bessent and Lutnick having “Potomac Fever,” the White House told Verum: “Anthony Scaramucci’s 10 days of relevance ended almost a decade ago.”

**Don’t chase the ‘coolest job’**

Scaramucci also recounted his early career as an investment banker at Goldman Sachs, where he was fired “due to incompetence” but later rehired.

“I was so insecure coming out of Harvard that I wanted the coolest, hottest, highest‑paying job,” he said, noting that “the coolest job in 1989 … was to be in real‑estate investment banking.”

“That was really stupid. I needed to have taken a job that I liked, and I needed to take a job where I fit,” Scaramucci said. “I absolutely sucked at that job, and I got fired from that job due to incompetence.”

He described the day he was dismissed, speaking to a firm partner, a “real‑estate Italian guy” named Mike Fascitelli. Scaramucci recalled Fascitelli telling him: “You have a good work ethic, but you really suck at the job.”

Scaramucci said he accepted responsibility for his poor performance and asked Fascitelli to serve as a reference.

He then discovered an opening for another role at Goldman in the institutional trading area, called Fascitelli, and was ultimately rehired.

“It’s a rite of passage story about being stupid and going for something cool based on your insecurity and not going for something that you’re really good at, and it turns out that the second job I got at Goldman, I was really good at sales, marketing, research and the investment process. I was way better at that than investment banking,” he added.

Following this week’s significantly stronger-than-anticipated August employment report, next week’s inflation data has become even more critical for investors seeking clues about the Federal Reserve’s potential interest rate moves later this month. Friday’s nonfarm payrolls showed an increase of 162,000 jobs last month, substantially exceeding the Dow Jones forecast of 53,000, while the unemployment rate remained steady at 4.1% as expected. July and June figures were also revised upward. Stocks declined as investors adjusted their expectations for the Fed’s decision when it meets September 15-16, with Fed funds futures indicating that bets on a rate hike at that meeting increased to 58% from 49.4% the previous day, according to the CME FedWatch tool. Supporting Fed Chairman Kevin Warsh’s recent remarks about a “quite stable” labor market, the release of August’s producer price index on Thursday and consumer price index on Friday will provide the final pieces for investors to complete their rate path analysis. “What’s happening in the market right now is a tug of war between those concerned about the Fed raising rates and those who believe the Fed will stay on the sidelines,” said Sam Stovall, chief investment strategist at CFRA Research. This focus is intensified by the lack of other significant market catalysts next week, Stovall noted. Unless Russian President Vladimir Putin suddenly announces he’s ending the war in Ukraine or Iran seeks to negotiate a ceasefire, he believes traders will “focus on the hard data.” “They’ll all come from Missouri and say, ‘Show me,'” he said. Yields remain a key concern. While some, like Ameriprise’s Anthony Saglimbene, believe the market may be overreacting to the prospect of a rate hike this month, another factor that could impact equities next week is Treasury yields. Last week, the yield on the 10-year Treasury note rose to its highest level since November 2023, while the 2-year note yield reached its highest point since January 2025. These movements occurred amid a broader increase in global bond yields, partly driven by growing inflation concerns as energy prices remain elevated due to the ongoing Middle East conflict. “Yields are becoming a bigger issue for the market,” said Saglimbene, his firm’s chief market strategist. “Markets see volatility increase when longer-term rates are moving higher, and I think that will be an underlying issue for the market for the rest of this year.” This is particularly true if the 10-year yield begins “moving closer to 5%,” he said. “Markets would have a difficult time with that.” The S&P 500 and Nasdaq Composite ended the week in positive territory, gaining 0.1% and 0.4% respectively, while the Dow Jones Industrial Average fell about 0.3%. The market will be closed Monday for the Labor Day holiday. Week ahead calendar All times ET. Monday, Sept. 7 U.S. markets closed for Labor Day Tuesday, Sept. 8 6 a.m.: NFIB Small Business Index (August) 3 p.m.: Consumer credit (July) Wednesday, Sept. 9 None. Thursday, Sept. 10 8:30 a.m.: Initial jobless claims (week ended Sept. 5) 8:30 a.m.: Producer price index (August) 10 a.m.: Existing home sales (August) 10 a.m.: Wholesale inventories (July) Friday, Sept. 11 8:30 a.m.: Consumer price index (August) 10 a.m.: Consumer sentiment (preliminary, September)

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