Investors and central banks continue to place their trust in gold

Advertisement - This article is distributed on behalf of Equinox Gold Corp., with which SRC swiss resource capital AG maintains paid IR advisory agreements · Publisher: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: May 13, 2026, 6:30 p.m. Zurich/Berlin ·

Dear Readers,

From a historical perspective, gold remains one of the most exciting commodities of the past decades. In 2008, the price of the precious metal surpassed the $1,000 per ounce mark for the first time. Since the 2008/2009 financial crisis, the price of gold has increased significantly, particularly through 2025 and into 2026 as global economic and political turmoil pushed gold to all-time highs above $5,500 per ounce. While the price has pulled back to the $4,500-$4,800 per ounce range in March and April, short-term price fluctuations do not alter the fact that gold plays a special role as a store of value for many investors, institutional investors, and central banks.

The reason is obvious: Gold is not a promise made by a government, a central bank, or a company. Especially in times of high government debt, geopolitical tensions, and political uncertainty, the precious metal therefore regularly comes into sharper focus. When confidence in fiat currencies, government finances, or political stability wanes, gold gains importance as an independent store of value.

An important factor is the trend in central bank demand. Many central banks have significantly expanded their gold reserves in recent years. This is often discussed in connection with so-called de-dollarization – that is, the efforts of individual countries to diversify their currency reserves and reduce their dependence on the U.S. dollar. In this environment, gold benefits from its global acceptance, its scarcity, and its long-standing significance in monetary history.

The US dollar also plays a central role in the price of gold. Since gold is traded internationally in US dollars, a weaker dollar can make gold more affordable for investors outside the US. At the same time, gold is often perceived as an alternative to fiat currencies during periods of dollar weakness. Conversely, a strong US dollar and rising real interest rates can weigh on the price of gold in the short term.

Interest rate policy also remains particularly important. Gold does not generate any current interest. Falling or prospectively lower interest rates can therefore increase the precious metal’s appeal, while rising real interest rates can create headwinds. The Federal Reserve has most recently left key interest rates unchanged. However, the future course of monetary policy remains data-dependent and is influenced by inflation, the economy, the labor market, geopolitical risks, and market participants’ expectations.

Against this backdrop, well-positioned gold producers remain attractive to many investors. One such producer is Equinox Gold.

Equinox Gold – https://www.commodity-tv.com/play/equinox-gold-presentation-of-top-quartile-gold-producer-with-upside-potential/ – is a gold producer operating in the stable jurisdiction of North America, whose business is increasingly shaped by its two core Canadian operations, Greenstone in Ontario and Valentine in Newfoundland. Additional production comes from the U.S. and Nicaragua, along with a pipeline of development and expansion projects that will deliver production growth in the coming years.

On May 6, 2026, the company released its first quarter financial and operating results, with 197,628 ounces of gold produced and revenue of $862 million, the year is off to a strong start and the company remains on track to achieve its 2026 production target of 700,000 to 800,000 ounces of gold.

The first quarter was also significant from a financial perspective. After selling its Brazil operations to focus its portfolio on longer-life, higher-margin operations, Equinox Gold was able to reduce debt by $988.6 million during the quarter. With a stronger balance sheet and confidence in cash flow from its operations, the company announced its inaugural quarterly dividend, paying shareholders 0.015 per share on March 26, 2026, with a second dividend coming in June.

In addition, Equinox Gold advanced several growth initiatives, with expansion projects planned in Canada, the USA and Mexico that are expected to deliver up to 500,000 ounces of additional annual production over the next few years.

Post quarter end, Equinox Gold refinanced and increased its revolving credit facility on better terms, giving the company access to $1 billion of credit plus a $500 accordian feature. With greater financial flexibility, plus cash flow from its operating mines, the company hopes to self fund its expansion projects, while continuing with its capital returns programs.

Darren Hall, Equinox Gold’s CEO, commented: “Our focus is clear: delivering long-term shareholder value through operational excellence, disciplined capital allocation and successful delivery of our organic growth pipeline.“

It remains important for investors to note, however, that production targets, expansion projects, timelines, and economic assumptions are forward-looking statements. Their actual implementation depends, among other things, on the gold price, cost trends, operational performance, permits, financing, technical studies, stakeholder agreements, and general market conditions.

Current company information and press releases regarding Equinox Gold can be found at: https://www.resource-capital.ch/de/unternehmen/equinox-gold-corp/

Further information is also available in the Precious Metals Report by SRC swiss resource capital AG: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2025-04/

Sources:

Equinox Gold Corp.: Company announcements dated April 9, 2026, and May 6, 2026; SRC swiss resource capital AG; Precious Metals Report 2025/04; Finanzmarktwelt; LBBW.

Advertisement – Marketing Communication. This publication was prepared and distributed on behalf of Equinox Gold Corp. SRC swiss resource capital AG is a company based in Switzerland and maintains paid investor relations, marketing, and communications contracts with Equinox Gold Corp. This constitutes a significant conflict of interest. This publication is therefore to be understood as a paid advertising or marketing communication and does not constitute independent financial analysis.

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Authors, employees, affiliated companies, or clients of SRC swiss resource capital AG may hold positions in the securities discussed or may acquire or dispose of them in the future. To the best of the author’s current knowledge, she does not hold any personal position in Equinox Gold Corp.; the net position of SRC swiss resource capital AG is less than 0.5%. The issuer does not hold a stake of 5% or more in SRC swiss resource capital AG.

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