Fidelity Plans to Return to Overweight Gold Position as Bull Market Expected in 2027

According to Kitco News, Fidelity International's Ian Samson predicts gold will return to a bull market in 2027 after hitting an all-time high of $5,600 per ounce earlier this year. Samson said the firm downgraded its gold position from overweight to neutral between January and February, ahead of the price decline that followed. Gold retreated from the record high in late January, with accelerated declines after Iran conflict escalated in February.

Despite near-term headwinds, Samson said Fidelity has not abandoned its conviction about gold's long-term trajectory. "We have a plan to go overweight gold again," Samson stated. The timing will depend on interest rate policy, oil prices, and technical signals, with potential support near $4,000 per ounce and a moderately bullish signal at $4,300.