Fidelity International Fund to Increase Gold Holdings, Believes Long-Term Bullish Thesis Remains Unchanged

BlockBeats News, July 16th, asset management company Fidelity International announced that it plans to re-increase its gold position at the appropriate time in the future after reducing it earlier this year, believing that the long-term development momentum of gold remains strong. Ian Samson, a multi-asset investment portfolio manager at Fidelity International, recently stated: "We plan to increase our gold holdings again, the only question is timing." He mentioned that he reduced the gold allocation to a neutral level in January to February this year, when the gold's multi-year bull market suddenly ended.

Samson expects the gold market to re-enter a bull market at some point in 2027. The logic of returning to a bull market will only be disrupted if "governments around the world return to fiscal discipline, and central banks around the world are truly committed to pushing down inflation again," but he said, "I don't think we are currently in that kind of world." Samson also stated that central banks' continued gold purchases (a key driver of the previous gold bull market) will continue to support the gold price. (FX678)