Fidelity International Plans to Rebuild Gold Holdings, Sees Long-Term Bullish Thesis Intact
Odaily News Asset management firm Fidelity International has indicated its intention to rebuild the gold positions it trimmed earlier this year at an appropriate time in the future, as it believes the long-term momentum for gold remains robust. Ian Samson, a multi-asset portfolio manager at Fidelity International, recently stated: "We plan to rebuild our gold holdings; the only question is the timing."
He explained that he reduced the firm's gold allocation to a neutral level between January and February this year, just as gold's multi-year bull run came to an abrupt end. Samson anticipates that the gold market will re-enter a bull phase sometime in 2027. The logic for a return to a bull market would only be undermined if "governments reimpose fiscal discipline and central banks truly commit to pushing inflation back down again," but he added: "I don't think we are in that kind of world right now."
Samson also stated that continued gold purchases by central banks—a key driver of the previous gold bull market—will continue to support gold prices. (Source: Jinshi)
