Fidelity International Plans to Rebuild Gold Holdings, Sees Long-Term Bullish Thesis Intact

Odaily Planet Daily News: Asset management company Fidelity International stated that it plans to rebuild its gold positions, which were reduced earlier this year, at an appropriate time in the future, believing that the long-term development momentum for gold remains strong. Ian Samson, Multi-Asset Portfolio Manager at Fidelity International, recently said: “We plan to rebuild our gold holdings; the question is just the timing.”

He noted that he reduced gold allocations to a neutral level between January and February this year, just as gold’s multi-year bull run abruptly ended. Samson expects that the gold market will re-enter a bull market sometime in 2027. The logic for a return to a bull market would only be undermined if “governments re-embrace fiscal discipline and central banks become genuinely committed to pushing inflation back down again. But I don’t think we are in that kind of world at the moment.”

Samson also added that continued gold purchases by central banks (a key driver of the previous gold bull market) will continue to support gold prices. (Jin Shi)