Fidelity International Plans to Increase Gold Holdings, Maintaining Long-Term Bullish Outlook

Deep News12:50

Asset management firm Fidelity International Limited intends to rebuild its gold holdings, which were reduced earlier this year, when the timing is right. The firm remains convinced that the fundamental drivers supporting a long-term rise in gold prices remain intact.

In a recent interview, Ian Samson, a multi-asset portfolio manager at Fidelity, stated, "We plan to move back to an overweight position in gold; it's just a question of timing."

Discussing the current gold market, Samson noted, "From a short-term tactical perspective, the market is fairly balanced between headwinds and tailwinds."

He added, "I expect gold prices to be modestly higher by year-end compared to current levels, and I anticipate a return to a bull market for gold at some point in 2027."

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