Fidelity International Plans to Rebuild Gold Holdings, Bullish Long-Term Thesis Remains 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 drivers for gold remain 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 the 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 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 undermined if "governments re-embrace fiscal discipline and central banks genuinely commit to bringing inflation back down," but he commented, "I don't think we are in that world right now."

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