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      Fidelity International Doubles Gold Holdings Amid Federal Reserve Uncertainty

      Fidelity International has significantly increased its gold holdings, with portfolio manager George Efstathopoulos reporting a doubling of the fund's gold allocation over the past three weeks. This strategic move comes as uncertainty surrounding Federal Reserve policy intensifies, leading to a reassessment of the dollar's status as a safe-haven asset.

      Efstathopoulos has raised the gold allocation in his fund to the self-imposed limit of 5%, indicating a willingness to consider further increases if the dollar continues to lose credibility. He highlighted that the recent Federal Reserve meeting prompted investors to sell long-term government bonds, which influenced his decision to bolster gold holdings.

      The manager expressed concerns regarding the Federal Reserve's credibility and the unexpected increase in U.S. Treasury repurchases of long-term bonds, suggesting that these actions may be more about manipulating yields than addressing the underlying reasons for rising yields. He emphasized that the current focus on gold is shifting from the yields themselves to the factors driving their increase.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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