Gold as a Safe Haven: Central Banks Are Buying and Reallocating Reserves

Central banks have become a cornerstone of the gold market. According to the World Gold Council, they have purchased, on average, twice as much gold over the past four years as they did in the previous decade. In times of crisis, location also matters: reserves must be readily available and tradable in an emergency.

Central banks are reorganizing their reserves

The Dutch central bank stood out. Between March and August 2026, it transferred approximately 86 metric tons of gold from New York and Ottawa to London—about a quarter of the 313 metric tons it had stored there. Gold in London is considered the most easily tradable; the central bank cited crisis preparedness as the reason.

Previously, France had replaced its remaining 129 metric tons in New York with bars in Paris, officially for technical reasons. Since then, all of France’s gold has been stored within the country. Germany had already moved approximately 300 metric tons from New York to Frankfurt by 2017.

Interest Rate Hike Has Limited Impact

The Federal Reserve’s first interest rate hike in more than three years, which took place in September, weighed on the price of gold. However, New York Fed President John Williams sees no rush to take further steps, which has reduced expectations of a rate hike in October. Many analysts remain bullish on gold, not least because of continued purchases by central banks. For investors, shares of gold exploration companies also offer exposure to the sector.

GoldMining: Gold, Copper, and Antimony

GoldMining – https://www.commodity-tv.com/ondemand/companies/profil/goldmining-inc/ – owns gold and copper projects in North and South America. The company’s 100% owned Crucero project in Peru contains significant antimony mineralization in addition to gold. According to the company, resources total 13.1 million ounces of gold equivalent (measured and indicated), and the company is debt-free. The updated PEA for La Mina in Colombia shows a net present value after taxes of $1.0 billion; the PEA report for São Jorge in Brazil has been submitted.

Southern Cross Gold: License Application for Sunday Creek

Southern Cross Gold Consolidated – https://www.commodity-tv.com/ondemand/companies/profil/southern-cross-gold-consolidated-ltd/ –

is developing the Sunday Creek gold-antimony project in Victoria, Australia. Antimony accounts for approximately 15 to 17% of the recoverable in-situ value. The drilling program covers 200,000 meters, and the stock has been added to the S&P/TSX Composite Index. Additionally, according to the company, the first new adit in Victoria in 20 years is being constructed. On September 22, 2026, the application for a mining license was accepted for review, marking another milestone.

Conclusion: GoldMining and Southern Cross Gold on the Verge of Milestones

Central banks are emphasizing the strategic importance of gold. GoldMining is driving forward the valuation of its portfolio with two new PEAs, while Southern Cross Gold is advancing the development of Sunday Creek with its license application. Next on the agenda are the further development of La Mina and São Jorge, as well as the permitting process in Victoria.

Current company information and press releases from Southern Cross Gold Consolidated (- https://www.resource-capital.ch/de/unternehmen/mawson-gold-ltd/ -) and GoldMining (- https://www.resource-capital.ch/de/unternehmen/goldmining-inc/ -).

You can also find more information in our new Precious Metals Report at the following link: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/.

Sources and Editorial Basis

Corporate sources are not independent.

World Gold Council, 2026 Central Bank Survey (via Kitco, June 16, 2026): https://www.kitco.com/news/article/2026-06-16/record-45-central-banks-plan-increase-gold-holdings-wgc-survey-finds

Relocation of the DNB’s gold reserves (Euronews, September 2, 2026): https://de.euronews.com/business/2026/09/02/niederlande-verlegen-86-tonnen-gold-nach-london-wegen-geopolitischer-unruhe

Banque de France, Gold from New York (Brussels Signal, April 9, 2026): https://brusselssignal.eu/2026/04/france-withdraws-entire-gold-reserve-from-us/

Central Banks Relocate Gold Reserves (Goldenstar): https://goldenstar.org.uk/de/central-banks-moving-gold-reserves-2026/

Reuters/onvista, Williams on Interest Rate Hikes (September 30, 2026): https://www.onvista.de/news/2026/09-30-fed-notenbanker-williams-keine-eile-bei-weiteren-zinserhoehungen-0-20-26558874

GoldMining, 2026 Mid-Year Update: https://www.resource-capital.ch/en/news/view/goldmining-issues-mid-year-2026-shareholder-update/

GoldMining, La Mina PEA Report (June 8, 2026): https://www.resource-capital.ch/en/news/view/goldmining-files-pea-technical-report-for-its-la-mina-project-colombia-highlighting-10-billion-after-tax-npv-and-32-irr/

Southern Cross Gold, Sunday Creek Mining License Application (September 23, 2026): https://www.pressebox.de/pressemitteilung/swiss-resource-capital-ag/Southern-Cross-Gold-Lodges-Mining-Licence-Application-At-Sunday-Creek/boxid/1313698

Advertisement, Commission, and Compensation

This article is a paid marketing and communications announcement and appears on behalf of GoldMining Inc. and Southern Cross Gold Consolidated Ltd. SRC swiss resource capital AG has paid investor relations advisory agreements with both companies; the compensation is not performance-based. The companies did not receive or approve the article prior to publication. The article is not an independent financial analysis, investment advice, individual investment recommendation, or solicitation to buy, hold, or sell securities. No assessment of readers’ personal circumstances, investment objectives, knowledge, experience, or risk tolerance is conducted.

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The creator and publisher is SRC swiss resource capital AG. The author is Ingrid Heinritzi. The person responsible within the meaning of Section 18(2) of the German Media Services State Treaty (MStV) is Marc Ollinger, CEO of SRC swiss resource capital AG.

Conflicts of Interest and Positions

A conflict of interest arises from the paid IR consulting agreements between SRC swiss resource capital AG and the issuers mentioned. Authors, employees, and affiliated companies of SRC may hold (long/short) positions in securities of the issuers discussed or may take such positions in the future. According to information provided by SRC as of the publication date: the author’s personal positions: none; SRC’s net position: none; an issuer’s stake of at least 5% in SRC: no. This disclosure is based, where applicable, on Article 20 of Regulation (EU) No. 596/2014 (MAR), Delegated Regulation (EU) 2016/958, and Section 85 of the German Securities Trading Act (WpHG), as well as on the requirements for clear and prominent disclosure in investor relations communications under the Securities Act (British Columbia).

Sources, Date of Publication, and Scope of Review

This report is based on public company announcements, publications by central banks and the World Gold Council, news agency and media reports, as well as the SRC’s Precious Metals Report. Date of publication: October 4, 2026. The SRC has not conducted its own resource estimate, drill data review, metallurgical study, feasibility study, or independent company valuation. Technical data provided by the companies may have been reviewed by a Qualified Person as defined by NI 43-101, but has not been independently verified by the SRC. Mineral resources are not mineral reserves; their economic recoverability has not been proven. The studies on La Mina and São Jorge are preliminary economic assessments (PEAs), not pre-feasibility or feasibility studies; a PEA is conceptual, may include inferred resources that are geologically too speculative for economic consideration, and offers no guarantee that its results will be achieved. According to the sources reviewed, no economic feasibility study is yet available for Sunday Creek. There is no obligation to provide ongoing updates following publication; statutory disclosure requirements remain unaffected. Subsequent changes in the company’s, project’s, market’s, or legal situation may render individual statements obsolete. Teaser image: AI-generated

Forward-Looking Statements and Risks

This article contains forward-looking statements, such as those regarding project development, studies, permits, and market trends. These statements are based on the companies’ assumptions and third-party assessments; actual results may differ materially. Significant risks include, in particular, exploration results, geology and metallurgy, permitting processes (such as in Victoria, Colombia, Brazil, and Peru), financing and dilution, gold, copper, and antimony prices, interest rate and exchange rate trends, political and legal risks, as well as partner and contractual risks. Shares of exploration and development companies are associated with high risks, including the potential for total loss of invested capital.

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This is not investment advice. This is not a solicitation to buy or sell securities.

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