Svmuu News: Asset management firm Fidelity International has stated that it plans to rebuild its gold positions—which it reduced earlier this year—at an appropriate time in the future, believing that gold’s long-term growth momentum remains strong. Ian Samson, a multi-asset portfolio manager at Fidelity International, recently said, “We plan to rebuild our gold positions; it’s just a matter of timing.”
He noted that he had reduced gold allocations to neutral levels between January and February of this year, just as the multi-year bull market in gold came to an abrupt end. Samson expects the gold market to re-enter a bull market sometime in 2027. The logic behind a return to a bull market would only be undermined if “governments return to fiscal discipline and central banks are truly committed to bringing inflation back down,” he said, “but I don’t think we’re in that kind of world right now.”
Samson also noted that continued gold purchases by central banks—a key driver of the previous gold bull market—will continue to support gold prices. (Jin Shi)