3 Gold Stocks To Watch As Central Banks Keep Buying Bullion

Gold is quietly back on centre stage as central banks keep adding around 1,000 tonnes a year and shift more bullion closer to home. That mix of steady official buying, geopolitical anxiety and London’s reinforced role as a key storage hub is reshaping how capital flows through the gold market. This article walks through three stocks that appear positively exposed to those currents so you can judge whether they deserve a closer look.

The stocks highlighted below are just a starting sample. The full screen surfaced 48 more companies with equally compelling gold infrastructure narratives that are not covered here. If you want to identify and analyze those additional opportunities in one place, head straight to the Global Gold Market Infrastructure and Custody Providers screener.

Hochschild Mining (LSE:HOC)

Overview: Hochschild Mining is a London based precious metals producer that explores, mines, processes and sells gold and silver, anchored by its Inmaculada underground mine in southern Peru and supplying customers across Europe, the Americas and Asia. It fits this gold market infrastructure screen as a sizeable, pure mining play that is geared to physical bullion demand rather than to custody or trading services.

Operations: Hochschild Mining generates most of its revenue from the Inmaculada mine at about US$840.9 million and the San Jose operation at about US$582.8 million, with smaller contributions from Mara Rosa at about US$82.9 million and other activities.

Market Cap: £3.41b

Investors looking at the global gold infrastructure theme may want Hochschild Mining on their radar because it offers direct leverage to bullion prices through producing assets rather than fee based custody income. Recent results point to higher sales and earnings, a stronger dividend and a P/E that analysts see as implying room for repricing, while reserve additions and projects like Mara Rosa and Monte do Carmo aim to support future production. At the same time, execution risk on new mines, exposure to Peru and Argentina and reliance on external borrowing mean the story is not without hazards. The mix of improving fundamentals and real project and political risk makes this a stock where the details really matter.

Hochschild Mining’s combination of stronger recent earnings, a higher dividend and a potentially flexible P/E could be obscuring the real tipping point in this story. Get the full picture in the 3 key rewards and 1 important warning sign

Triple Flag Precious Metals (TSX:TFPM)

Overview: Triple Flag Precious Metals is a Toronto based streaming and royalty company that finances mines in exchange for a share of future gold and other metal production, giving you exposure to bullion prices without the operational risk of running mines. It fits this gold infrastructure themed screen as an asset light financier whose cash flows are closely tied to long term demand for gold and silver rather than to storing or vaulting metal directly.

Operations: Triple Flag Precious Metals reports about US$488.6 million of revenue from its metals and mining streaming and royalty portfolio focused on gold and other precious metals, with underlying production exposure spread across Peru, Australia, other Latin American countries, the United States and Canada.

Market Cap: CA$9.81b

Triple Flag Precious Metals is worth a closer look if you want exposure to central bank driven gold demand without taking on full mine development risk. The Ravenswood stream and the Steppe Gold settlement have added new long dated gold deliveries, while recent results show higher revenue, cash flow and EBITDA alongside a larger dividend and active buybacks, all underpinned by more than US$1.1b of available liquidity. The flip side is that future growth depends on a steady flow of new streaming deals, production profiles at partner mines and careful handling of disputes like the one previously seen with Steppe Gold. The balance between rising cash generation and these dependence risks is where the investment case for this stock really takes shape.

Triple Flag Precious Metals’ growing stream of gold deliveries and more than US$1.1b in available liquidity could be masking the real story. Get the full context in the Triple Flag Precious Metals financial health report

Serabi Gold (AIM:SRB)

Overview: Serabi Gold is a UK based miner that explores, develops and operates gold and copper projects in Brazil, centred on its Palito mining complex and Coringa Gold Project in the Tapajos region. It is in this gold infrastructure themed screen as a relatively small producer whose cash flows are closely tied to bullion prices rather than to vaulting or custody services.

Operations: Serabi Gold generates about US$178.8 million from gold mining and exploration, with roughly US$166.2 million of revenue linked to Brazil and about US$12.6 million from the UK.

Market Cap: £225.5 million

Serabi Gold provides exposure to central bank driven gold demand through producing and developing Brazilian assets, while still being listed in a major market. The appeal is a mix of reported profitability, confirmed 2026 production guidance of 53,000 ounces and a recently approved 5 pence dividend, alongside a valuation that some analysts assess as below their fair value estimates. On the risk side, high reliance on external borrowing, permitting and operational challenges in Para state and an upcoming CFO change in 2026 place a focus on execution and balance sheet discipline. For investors looking at a gold exposed stock where both potential benefits and risk factors are clearly outlined, this may warrant further research.

Serabi Gold’s confirmed 2026 production target, cash generating assets and first dividend hint at a story that could be just getting started, while execution and funding risks still lurk beneath the surface. Read the 4 key rewards and 1 important warning sign

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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