Ian Samson, multi-asset portfolio manager at Fidelity International, is bringing the $3 billion income and growth strategy fund back to an overweight position on gold, after cutting it to neutral between January and February. Gold peaked near $5,600 per ounce in early 2026 before dropping roughly 11% to around $5,000 by mid-July 2026. Samson expects gold to re-enter bull market territory in 2027. The 5% target allocation represents approximately $150 million in exposure. Sustained central bank buying, driven by diversification away from dollar-denominated assets, forms a core part of his investment thesis.
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