Mittelstandspresse
05.11.2026
Gold Price Under Pressure: Central Banks Keep Buying
Herisau, 05.11.2026 (PresseBox) - On October 23, gold fell below US$4,000 for the first time since mid-July; central banks bought 321 metric tons in the third quarter. Banyan reports 1.88 g/t gold over 17.9 meters; Southern Cross applies for a mining license.
Advertisement — On behalf of Banyan Gold Corp. and Southern Cross Gold Consolidated Ltd. SRC swiss resource capital AG maintains paid IR consulting agreements with both that are not contingent on success. Author: Ingrid Heinritzi. First published: November 5, 2026, 8:50 a.m. Berlin/Zurich time.
Interest Rate Concerns Weigh on Gold, Central Banks Are Buying
On October 23, the gold price fell for the first time since mid-July below US$4,000 per ounce. Rising oil prices and expectations of further US interest rate increases weighed on the price. In addition, according to market reports, investors sold gold to raise liquidity following a slump in technology stocks.
The US Federal Reserve had raised its key interest rate on September 16 for the first time since 2023 and left it at 3.75 to 4.00 percent on October 28. The ECB and the Bank of Japan also held their rates. At the end of October, the year-end forecasts of major banks were mostly between US$4,500 and US$4,650.
Structurally, demand from central banks remains high: according to the World Gold Council, they bought 321 metric tons of gold in the third quarter, 42 percent more than a year earlier. Since the start of the year, their purchases have totaled 675 metric tons.
Banyan Gold Advances AurMac and Nitra
Banyan Gold - https://www.commodity-tv.com/ondemand/companies/profil/banyan-gold-corp/ - owns 100 percent of the AurMac project in the Yukon; together with Nitra, the land package covers around 830 square kilometers. The resource (effective date May 15, 2026) comprises 3.64 million ounces of gold indicated at 0.68 g/t and 4.98 million ounces inferred at 0.58 g/t. Resources are not reserves; their economic viability has not been demonstrated.
On October 6, Banyan reported 1.88 g/t gold over 17.9 meters between the Airstrip and Powerline deposits. This is a drilled length, not a confirmed true width. At Nitra, the company encountered visible gold. A first PEA for AurMac is planned for the fourth quarter. Timelines and results remain contingent on successful execution.
Southern Cross Gold Applies for Mining License
Southern Cross Gold - https://www.commodity-tv.com/ondemand/companies/profil/southern-cross-gold-consolidated-ltd/ - owns 100 percent of the Sunday Creek gold-antimony project in Victoria, Australia. According to the company, antimony contributes around 15 to 17 percent of the recoverable in-situ value; this figure is based on a gold equivalent formula. No mineral resource is available yet; the 200,000-meter drill program runs into the first quarter of 2027.
On September 22, Resources Victoria accepted the application for a mining license for the Golden Dyke area. A planning permit and an approved mining work plan are still required before mining. According to the company, the first new exploration decline in Victoria in around 20 years has been under construction at Sunday Creek since June.
Conclusion: Banyan Gold and Southern Cross Gold Ahead of Milestones
Despite the price weakness, ongoing central bank purchases support the environment for gold companies. At Banyan, the first PEA for AurMac and the Nitra drilling are what matter; at Southern Cross, the review of the license application and the ongoing drill program. Financing, permits, and execution remain decisive. Gold stocks carry additional company-specific risks and offer no price certainty.
Current company information and press releases: https://www.resource-capital.ch/de/unternehmen/banyan-gold-corp/ and https://www.resource-capital.ch/de/unternehmen/mawson-gold-ltd/
Further information is available in our Precious Metals Report: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/
Swiss Resource Capital AG at a Glance:
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Sources: CNBC, Gold below US$4,000, October 23, 2026 · Yahoo Finance, Tech sell-off and gold, October 23, 2026 · Federal Reserve, FOMC decision, September 16, 2026 · Federal Reserve, FOMC decision, October 28, 2026 · Political.org, ECB and BoJ rate decisions, October 30, 2026 · Golden Ark Reserve, Bank forecasts for gold, October 2026 · World Gold Council, Gold Demand Trends Q3 2026, November 3, 2026 · Banyan, AurMac resource, May 19, 2026 · Banyan, Nitra Roaring Fork and Seattle Creek, July 28, 2026 · Banyan, AurMac Airstrip/Powerline, October 6, 2026 · Southern Cross Gold, Exploration decline, June 29, 2026 · Southern Cross Gold, Exploration target Sunday Creek, August 4, 2026 · Southern Cross Gold, Mining license application, September 23, 2026; title image: AI-generated symbolic illustration
Transparency and Conflicts of Interest
Prepared and published by: SRC swiss resource capital AG, Poststrasse 1, 9100 Herisau, Switzerland. Author: Ingrid Heinritzi. Person responsible under Section 18(2) of the German Interstate Media Treaty (MStV): Marc Ollinger, CEO SRC. Issuers: Banyan Gold Corp. (TSXV: BYN; OTCQB: BYAGF; WKN: A1T64A; ISIN: CA06683K1066) and Southern Cross Gold Consolidated Ltd. (TSX: SXGC; ASX: SX2; OTCQX: SXGCF; WKN: A40QY8; ISIN: CA8426851090). Commissioning party and recipient of compensation: The article is published within the framework of the ongoing IR agreements with the companies, under which SRC is compensated. The author is compensated via SRC. The paid relationships give rise to an economic interest in a positive presentation. Neither SRC nor the author holds shares of the aforementioned issuers as of the date of publication. Interest of an issuer in SRC of at least 5%: No. Market-making and investment banking relationships: No. Other relevant interests: No. Prior review by the issuers: No; the article was not submitted to the issuers for review or approval.
Methodology and Risks
Editorial cut-off date and source cut-off date: November 4, 2026, 2:30 p.m. CET. Public sources were cross-checked; company information is not independent. No proprietary drill data verification, resource estimate, feasibility study, or company valuation. Title image: AI-generated symbolic illustration; it does not show any real facilities or projects of the issuers. QPs of the original releases: Banyan Gold—Duncan Mackay, M.Sc., P.Geo., Vice President Exploration, not independent (drill releases); Marc Jutras, P.Eng., Ginto Consulting Inc., independent (resource of May 15, 2026). Southern Cross Gold: the Head of Exploration is not independent. The naming of the QPs does not constitute a review or approval of this article. Drill intercepts are drilled lengths; Southern Cross’s gold equivalents and antimony contributions are based on the formula AuEq = Au (g/t) + 2.39 × Sb (%). Inferred resources have lower geological confidence than indicated resources. Studies and timelines require, among other things, financing, permits, and successful exploration. The gold price, interest rates, exchange rates, permitting procedures in the Yukon and Victoria, metallurgy, costs, and capital dilution may materially change results and lead to a total loss.
Notices and Liability
Paid marketing communication; not independent financial analysis, individual investment advice, or a solicitation to buy; not an offer of securities and not a buy recommendation. Personal investment circumstances are not assessed. Liability is limited only to the extent permitted by law; mandatory liability and claims remain unaffected. The respective operators are responsible for external sites; SRC’s own statutory responsibility remains unaffected. AI was used for research, editing, and the title image. Editorial responsibility and the final human review remain with SRC. © 2026 SRC swiss resource capital AG. Redistribution with consent or statutory permission.
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Gold Price Under Pressure: Central Banks Keep Buying
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