TechFlow reports that on July 16, asset management company Fidelity International stated it plans to rebuild gold positions reduced earlier this year at an appropriate future time, believing that gold's long-term momentum remains strong. Fidelity International multi-asset portfolio manager Ian Samson recently stated: "We plan to rebuild gold holdings; the question is just timing." He said he reduced gold allocation to neutral levels during January and February this year, when the multi-year gold bull market suddenly ended. Samson expects the gold market will re-enter a bull market sometime in 2027. The logic for returning to a bull market would only be undermined if "governments of various countries return to fiscal discipline, and central banks are truly committed to bringing inflation back down," "but I think we are not in that world currently." Samson also added that the continued purchase of gold by central banks of various countries (this was an important driving factor of the previous gold bull market) will continue to support gold prices. (Jin10)
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