Gold Investors – Patience Is Key

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: June 12, 2026, 8:40 Zurich/Berlin

The direction the gold price takes will depend primarily on the U.S. Federal Reserve’s stance on interest rates. In February 2026, JPMorgan had cited a target range of $6,000 to $6,300 per troy ounce for the end of 2026. Although the average 2026 forecast was recently lowered, JPMorgan remains bullish in the medium term and expects gold to continue rising toward $6,000 by the end of 2026, Goldman Sachs is sticking to its forecast of $5,400 by the end of 2026. In the short term, attention is initially focused on the Fed meeting in June and then on the interest rate decision at the end of July.

The price of gold is fluctuating more wildly than ever before. January 2026 saw the sharpest price increase since 1999, and March saw the largest monthly loss since 2013. At around $4,300 per ounce, gold is currently trading near the level seen at the start of 2026 ($4,315.09 on January 1, 2026). Even though some gold investors may not be entirely happy at the moment, a rising gold price should be welcome in the long run. Moreover, low prices are always good entry points. Strong inflows into gold ETFs in China and India, as well as insurance companies such as Indian pension funds investing in gold, point to higher gold prices.

Another significant factor supporting gold from a fundamental perspective is, of course, central banks’ appetite for gold. Many still hold less than ten percent of their reserves in gold. And the desire for de-dollarization is strong, so there is still plenty of potential to drive up the gold price. And even though the prospects for interest rate cuts aren’t particularly strong right now, the Fed is expected to cut rates by mid-2027. LBBW, for example, is convinced of this and also expects a weaker U.S. dollar. Both factors are good for the gold price, and thus also for mining companies with gold in the ground, such as Equinox Gold.

Equinox Gold - https://www.commodity-tv.com/ondemand/companies/profil/equinox-gold-corp/ - is a North America-focused gold producer whose core business is currently defined by its two Canadian operations, Greenstone and Valentine, supplemented by production in the United States and Nicaragua as well as several expansion projects. On April 9, 2026, the company reported first-quarter gold production of 197,628 ounces, including 87,402 ounces from its two Canadian operations.

At the same time, Equinox Gold reduced its debt by $990 million during the quarter. The new Valentine mine averaged 101 percent of rated capacity in February and March, while Greenstone continued to benefit from the operational improvements implemented in 2025. Based on its strengthened balance sheet, the company also initiated capital returns and paid its first quarterly dividend in March 2026.

With the planned merger with Orla Mining - which is still subject to shareholder approval and customary closing conditions - Equinox Gold could take its next strategic step toward growth. The combined company would have six producing mines in North America, including the three Canadian cornerstones: Greenstone, Valentine, and Musselwhite.

Combined production of approximately 1.1 million ounces of gold is expected for 2026. Looking ahead, management sees a growth trajectory of up to 1.9 million ounces annually, provided the planned expansion and development projects are implemented as scheduled. This would significantly increase Equinox Gold’s size, asset quality, and capital market relevance - precisely the factors that, in the company’s view, could support a potential revaluation.

Current company information and press releases from Equinox Gold (-  https://www.resource-capital.ch/de/unternehmen/equinox-gold-corp/ -).

Further information is also available in our new Precious Metals Report at the following link: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2025-04/.

Sources: Equinox Gold,

https://www.kitco.com/news/article/2026-06-05/gold-breaks-below-key-technical-support-analysts-see-buying-opportunity;

https://www.kitco.com/news/article/2026-06-05/gold-demand-will-drop-year-even-supply-increases-average-price-will-still;

https://www.finanzen.net/nachricht/devisen/goldrausch-goldpreis-wieder-auf-rekordkurs-experte-sieht-naechste-rally-bereits-anlaufen-00-15721374;

https://www.reuters.com/business/jp-morgan-sees-year-end-2026-gold-price-6300-per-ounce-2026-02-25/;

https://www.reuters.com/business/finance/jp-morgan-expects-gold-prices-reach-6300oz-by-end-2026-2026-05-18/;

https://www.investing.com/news/commodities-news/goldman-sachs-sees-gold-hitting-5400-by-yearend-4589257;

https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm;

https://www.equinoxgold.com/news/equinox-gold-delivers-strong-first-quarter-with-197628-ounces-of-gold-production-990-million-of-debt-reduction-and-inaugural-dividend-payment/;

https://www.equinoxgold.com/news/equinox-and-orla-mining-combine-to-create-north-americas-new-senior-gold-producer-built-to-grow-built-to-last/;

https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2025-04/;

Pursuant to Section 85 of the German Securities Trading Act (WpHG) in conjunction with Article 20 of the Market Abuse Regulation (MAR) (Regulation (EU) 2016/958), we hereby note that authors, employees, and affiliated companies of Swiss Resource Capital AG (SRC) may hold positions (long/short) in the issuers discussed. Compensation/Relationship: IR contracts/Advertorial: Author’s own positions: none; SRC net position: less than 0.5%; Issuer’s stake ≥ 5 % in SRC: no. Update Policy: No obligation to update. No guarantee regarding the German translation. Only the English version of this news is valid.

Disclaimer: The information provided does not constitute any recommendation or advice. Please be aware of the risks involved in securities trading. No liability can be accepted for damages arising from the use of this blog. We would like to point out that investments in stocks and, in particular, warrants are generally associated with risk. The total loss of the invested capital cannot be ruled out. All information and sources are carefully researched. However, no guarantee is given as to the accuracy of any content. Despite the utmost care, I expressly reserve the right to errors, particularly with regard to figures and prices. The information contained herein is derived from sources deemed reliable but in no way claims to be accurate or complete. Pursuant to court rulings, I am jointly liable for the content of linked external sites (e.g., Hamburg Regional Court, in its ruling of May 12, 1998 – 312 O 85/98) unless I expressly distance myself from them. Despite careful monitoring of the content, I assume no liability for the content of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG, available at:  https://www.resource-capital.ch/de/disclaimer-agb/, applies additionally.