Following an approach from CNN International’s Quest Means Business to Gold Network, Board Member Jack Garrett-Jones, former Head of Notes and Gold at the Bank of England, joined the programme to discuss the movement of central bank gold reserves.

Jack was invited following news that the Dutch Central Bank (DNB) had moved a portion of its gold reserves from North America (both the New York Fed and Bank of Canada) to the Bank of England, a decision the DNB attributed to strengthening its crisis preparedness. Speaking with anchor Richard Quest, Jack offered insight into why central banks hold gold as a last resort asset, how they assess where to hold their assets and particularly how the Bank of England’s vaulting and settlement systems allow gold to be transferred and accessed rapidly in a crisis given London’s ongoing position as the center of the physical gold market.

Jack also spoke to the broader shift in how both individuals and governments view gold today, pointing to rising global uncertainty, increased government debt, and a series of recent geopolitical and economic shocks as key drivers behind gold’s renewed appeal as a stable, secure store of value.

Watch the full interview here.