Fidelity International Plans to Repurchase Gold, Believing the Long-Term Bullish Thesis Remains Unchanged

Odaily Planet Daily News Asset management company Fidelity International has stated that it plans to repurchase the gold positions it reduced earlier this year at an appropriate time in the future, believing that the long-term growth drivers for gold remain robust. Ian Samson, Multi-Asset Portfolio Manager at Fidelity International, recently stated: "We plan to repurchase gold; it's just a matter of timing."

He noted that he reduced the gold allocation to a neutral level during the period from January to February of this year, which coincided with the abrupt end of gold's multi-year bull market. Samson expects the gold market to re-enter a bull market sometime in 2027. The logic for a return to a bull market would only be disrupted if "governments re-embrace fiscal discipline and central banks truly commit to driving inflation back down," "but I believe we are not currently in that kind of world."

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. (Jin Shi)